Demand for "Angel" Tax Credit Increases Over Previous Year
LINCOLN, Neb. (AP) —
Demand is holding strong for a state tax incentive program designed to
nurture startup businesses in Nebraska that cost the state more than
$2.8 million last year.
A new report by the Department of Economic
Development finds that Nebraska issued the tax credits last year to
"angel investors" in 22 fledgling companies. The $2.8 million in credits
is up from $2.3 million in the program's first year.
say the credit promotes investment in high-tech startups that could lead
to economic growth. Opponents question whether the incentives work.
report comes as Nebraska lawmakers conduct a review of both the state
tax system and its tax incentives. The Legislature's Performance Audit
Committee is working on ways to evaluate whether the incentives work as