Microenterprise Tax Credit applications increase in 2021

A program incentivizing microentrepreneurship, by encouraging business investment, is seeing renewed interest after updates made last year.

Established in 2005, the Nebraska Advantage Microenterprise Tax Credit experienced strong usage from 2008 to 2014 but saw a decline to only 75 applicants in 2019 and 81 in 2020. These dwindling participation rates encouraged a small group of senators to propose canceling the program.

Understanding its value to rural communities, the Center for Rural Affairs teamed with Sen. Tom Briese, of Albion, to protect the program and initiate a series of improvements...