{"id":30525,"date":"2021-05-20T15:31:11","date_gmt":"2021-05-20T21:31:11","guid":{"rendered":"http:\/\/update.legislature.ne.gov\/?p=30525"},"modified":"2021-05-20T15:31:11","modified_gmt":"2021-05-20T21:31:11","slug":"microenterprise-tax-credit-changes-approved","status":"publish","type":"post","link":"https:\/\/update.legislature.ne.gov\/?p=30525","title":{"rendered":"Microenterprise tax credit changes approved"},"content":{"rendered":"<p>Senators passed a bill May 20 intended to modernize the state\u2019s small business tax credit.<figure id=\"attachment_20127\" aria-describedby=\"caption-attachment-20127\" style=\"width: 200px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"20127\" data-permalink=\"https:\/\/update.legislature.ne.gov\/?attachment_id=20127\" data-orig-file=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenBriese_inline.jpg\" data-orig-size=\"297,445\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D800&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1479303209&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;90&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"senbriese_inline\" data-image-description=\"&lt;p&gt;Sen. Tom Briese&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sen. Tom Briese&lt;\/p&gt;\n\" data-large-file=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenBriese_inline.jpg\" src=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenBriese_inline-200x300.jpg\" alt=\"Sen. Tom Briese\" width=\"200\" height=\"300\" class=\"size-medium wp-image-20127\" srcset=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenBriese_inline-200x300.jpg 200w, https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenBriese_inline.jpg 297w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-20127\" class=\"wp-caption-text\">Sen. Tom Briese<\/figcaption><\/figure><\/p>\n<p>Under the Nebraska Advantage Microenterprise Tax Credit Act, a business with five or fewer full-time employees can apply to receive a refundable tax credit designed to help decrease the cost of startup and expansion.<\/p>\n<p>The program, which offers a tax credit to approved microbusiness taxpayers for new investment or employment equal to 20 percent of the investment amount \u2014 up to a maximum of $10,000 \u2014 had been set to expire in 2022. Total credits approved under the program are limited to $2 million annually.<\/p>\n<p>LB366, introduced by Albion Sen. Tom Briese, extends the program expiration date through 2032. It also raises the maximum lifetime tax credits claimed by any individual from $10,000 to $20,000.<\/p>\n<p>Finally, the bill strengthens reporting requirements and allows certain family members of a person who has received the maximum credit also to participate in the program \u2014 as long as ownership is not shared and the businesses are completely separate.<\/p>\n<p>The changes made by LB366 apply only to applications made after the bill\u2019s operative date.<\/p>\n<p>The bill passed on a vote of 44-1.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senators passed a bill May 20 intended to modernize the state\u2019s small business tax credit.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[185],"class_list":["post-30525","post","type-post","status-publish","format-standard","hentry","category-revenue","tag-sen-tom-briese"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/30525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30525"}],"version-history":[{"count":2,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/30525\/revisions"}],"predecessor-version":[{"id":30527,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/30525\/revisions\/30527"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}