February 23rd, 2011Nevada Democrats Seek Tax Credits For Small Business Investment
For the third week in a row, Assembly Democrats rolled out bills that are part of their overall plan to put Nevadans back to work, speaking Monday about two bills that will gives tax abatements and credits to those who make investments in Nevada’s small businesses and universities.
“We think this transcends politics and parties and we are trying to work with the (Republican) governor and the (Republican) minority leadership in both houses to put Nevadans back to work,” said Assembly Speaker John Oceguera, D-Las Vegas.
Assembly Bill 189, sponsored by Assemblyman William Horne, D-Las Vegas, would provide tax credits to investors who make capital investments in small Nevada businesses. The investment needed to qualify for the tax credit could range from $5,000 to $1 million, Horne said.
AB 191 would give property tax and sales tax abatements to those who invest at least $500,000 in Nevada’s university system.
The abatement would be in the $150,000 to $200,000 range, said bill sponsor Assemblyman Marcus Conklin, D-Las Vegas.
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