Nebraska Advantage Program
Provides benefits based on investment tiers from as few as 10 new jobs and $1 million in investment.
Tier 1 — $1 million new investment and 10 new jobs
Tier 2 — $3 million new investment and 30 new jobs
Tier 2 (New/Additional) - $200 million and 30 new jobs at data center
Tier 3 — 30 new jobs (no investment)
Tier 4 — $12 million new investment and 100 new jobs
Tier 5 — $37 million new investment and must maintain employment
Tier 6 — $10 million new investment and 75 new jobs OR
$109 million new investment and 50 new jobs
Rural Development Advantage
Provides qualified businesses with refundable tax incentives for projects that create two new jobs and invest $125,000 in counties with less than 15,000 residents (which Kimball County qualifies). Telex-workers count as new employees. In addition, the $250,000-investment and five job thresholds remain in place for counties with populations 15,000-25,000.
Nebraska Customized Job Training Advantage
Provides a flexible and discretionary job-training program with grants from $800 to $4,000 per qualified new job. Additional grant funds may be available for new jobs created in rural and high poverty areas.
Nebraska Advantage Research and Development Credit
Offers a refundable tax credit for qualified research and development activities undertaken by a business entity for 21 years. The credit is equal to 15 percent of the federal credit allowed under Section 41 of the Internal Revenue Code of 1986 for research and development. The credit is increased to 35 percent of the federal credit allowed under Section 41 of the Internal Revenue Code of 1986 for expenditures on the campus of a college or university in Nebraska or a facility owned by a college or university in Nebraska.
Nebraska Advantage Microenterprise Tax Credit
Provides a 20 percent refundable tax credit to micro businesses on increased compensation for employees or increased investment in targeted communities- Applicants may qualify for a maximum $ 10,000 throughout the life of the program. The credit is limited to companies with five or fewer employees at the time the application is filed, including start-ups.
Community Development Block Grant (CDBG)
Loans designed to create quality jobs and promote new investment. CDBG funds must be used to benefit low- to moderate-income persons, aid in the prevention or elimination of slums or blight, or meet other community development emergency needs. CDBG funds can be used to purchase machinery, equipment and inventory, meet working capital needs, develop community infrastructure, construct or renovate existing buildings and real estate.
Capital Gains & Extraordinary Dividend Exclusion
Exemption from state personal income tax on capital gains realized from selling or exchanging stock of one corporation acquired by an employee with that corporation. The employee can also exclude extraordinary dividends that exceed 20 percent of the value of the stock for the same corporation. The corporation must have done business in Nebraska for at least three years and must have a minimum of five shareholders, and related shareholders cannot own more than 90 percent of the stock
State and Local Sales Tax Exemptions of Manufacturing Machinery, Equipment and Related Services
Manufacturing machinery and equipment is defined to include: equipment for transporting raw materials or components, molds and dies for forming cast or injected products or its packaging materials, machinery to maintain the integrity of the product or environmental conditions, testing equipment for quality control, computers that control a manufacturing process, machinery used to produce steam, electricity, catalysts, and solutions, repair or replacement parts, and all installation, repair and maintenance service performed on such equipment.
For more information on any State incentives, please visit their website at https://opportunity.nebraska.gov/.