This credit is available to new or growing businesses.  The credit is equal to 20% of the increase of new investment in the business up to $100,000 of expenditures for a maximum credit of $20,000.  The business must have five or fewer full-time equivalent employees to qualify.

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The following expenditures qualify for this credit:

1. Buildings & equipment purchases

2. Repairs & maintenance expenses

3. Advertising costs

4. Legal & professional fees

5. Lease payments

6. Employee wages

7. Employer health insurance

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An application must be filed with the state by November 1st to request the funds.  The credit is then taken on the Nebraska individual income tax return.  

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