Area child cares to benefit
Reinke Manufacturing recently announced significant contributions to local childcare providers.
The Nebraska Legislature recently introduced the Child Care Tax Credit, applicable for tax years commencing on or after Jan. 1. This initiative is intended to incentivize financial support for childcare programs by offering nonrefundable tax credits to taxpayers.
Contributions must be directed to programs licensed as family child care homes (I or II), child care centers, preschools, or those operating as for-profit child care businesses or nonprofit organizations recognized under the Internal Revenue Code of 1986, as amended.
The credit allows for either 75 or 100 percent of the qualifying contribution, with an annual limit of $100,000.
The tax credit rate is contingent upon specific conditions. Programs situated in opportunity zones or those caring for at least one child under the child care subsidy program qualify for a 100 percent tax credit. All other programs qualify for a 75 percent credit.
This month, Reinke Manufacturing contributed $10,000 to each of the following childcare centers: Kinder Academy in Bruning, Kids Praise Child Care Center and Thayer Kids Academy in Hebron.
Additionally, Reinke donated $2,000 to each of the in-home childcare providers in the area, encompassing one provider in Bruning, five in Deshler, one in Hebron and one in rural Byron.
This benevolent support exemplifies how businesses can engage in supporting childcare services through the Child Care Tax Credit initiative.
Chris Roth, President of Reinke, stated, “Reinke is proud to support our local childcare providers. Reinke employees require high-quality childcare services, and this initiative represents an excellent way for Reinke to assist Thayer County providers.”
Reinke Manufacturing also encourages other local businesses, community groups and supportive citizens to make contributions before the end of 2024. Funding for this initiative is capped at $2.5 million for the entire state.
About Reinke Manufacturing: With hundreds of dealers in over 40 countries, Reinke Manufacturing is the world’s largest privately held manufacturer of center pivot and lateral move irrigation systems. Family-owned since 1954 and headquartered in Deshler, Nebraska, Reinke develops products and technology designed to enhance agricultural production while providing labor savings and environmental efficiencies.
