skip to main content
skip to newscasts

Friday, March 29, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

view newscast page
play newscast audioPlay

Republicans float conspiracy theories on the collapse of Baltimore's Key Bridge, South Carolina's congressional elections will use a map ruled unconstitutional, and the Senate schedules an impeachment trial for Homeland Secretary Mayorkas.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Time to Get in Line for Small Business Tax Credits

play audio
Play

Tuesday, August 10, 2021   

LINCOLN, Neb. -- Nebraska businesses with no more than five employees now can apply for up to $20,000 in tax credits.

Johnathan Hladik, policy director at the Center for Rural Affairs, said because funds are limited, now is the time to get in line for the Nebraska Advantage Microenterprise Tax Credit.

He pointed out the credit also is available to owner/operators and entrepreneurs who plan to invest in their business in a wide range of ways.

"That includes purchasing or leasing equipment, such as machinery, or computers, or office equipment for repairs and maintenance to your property," Hladik outlined. "It will even help you for new-employee health insurance coverage, or increasing compensation to existing employees."

The credit is refundable, which means businesses will be reimbursed for 20% of money invested even if they don't end up owing taxes.

Hladik noted the application process can take time, and encouraged entrepreneurs to contact the Center if they need help.

This year's allocation for the program is a total of $2 million, and starting August 27, the tax credit's lifetime limit will increase from $10,000 to $20,000.

Hladik contended the credit can boost rural economies by helping Main Street mom-and-pop businesses recover from the pandemic's economic fallout.

"And particularly tailored to help those businesses grow their county," Hladik observed. "We want to see rural economic development. We want to see job growth in those rural areas. We know, historically and statistically, a lot of that does come from entrepreneurship and a lot of that does come from microenterprises."

Many businesses had to put off investments during the economic downturn in 2020.

Hladik argued businesses that made zero investments last year are well positioned to qualify for the credit on investments made this year.

"And that means they're ready to make those investments now," Hladik asserted. "So it's a perfect time to apply for this, because you're going to get a 20% credit on those investments you make to build your business."

Disclosure: Center for Rural Affairs contributes to our fund for reporting on Budget Policy and Priorities, Environment, Hunger/Food/Nutrition, and Rural/Farming Issues. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
A report from the Tennessee HealthCare Campaign recommended the federal government needs to strengthen 340B drug pricing and other federal negotiation mechanisms to make needed medicines more readily available and less expensive for hospitals to purchase and administer. (Spotmatikphoto/AdobeStock)

Health and Wellness

play sound

A recent report examined how some rural Tennessee hospitals have managed to stay afloat despite financial challenges. The report includes interviews …


Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…


Nearly 13 million Americans receive health coverage through unique plans under both Medicare and Medicaid. They are known as Dual-Eligible Special Needs Plans. (Adobe Stock)

Health and Wellness

play sound

Medicare and Medicaid are key sources of health coverage for many Americans and some people qualify for assistance under both programs. With lagging …

Social Issues

play sound

A mix of policy updates and staffing boosts has helped to put wage theft enforcement on the radar in Minnesota, and officials leading the efforts are …

More than six in 10 Americans favor keeping the abortion pill mifepristone available in the U.S. as a prescription drug, while over a third are opposed, according to a Gallup poll. (Adobe Stock)

Social Issues

play sound

New research shows more than six in 10 abortions in the U.S. last year were medically induced, and U.S. Sen. Catherine Cortez Masto - D-NV - is …

Social Issues

play sound

Colorado is working to boost the state's agricultural communities by getting more fresh, nutritious foods into school cafeterias - and a new online …

Social Issues

play sound

Missouri lawmakers are concerned with protecting people from the potential risks of the increasing accessibility of AI-generated images and videos…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021