Nonprofits sought for state-tax-exempt status
The town's Office of Community & Economic Development is soliciting program proposals from community nonprofit organizations and municipal agencies for status that would allow tax credits for businesses that donate to them.
The NAA program allows businesses to claim a state tax credit for cash contributions to qualifying tax-exempt organizations or agencies, the ecnomic development office said in a news release.
Applications for the status must be received by close of business on April 25 to be considered.
The types of community programs that qualify for the NAA tax-credit program, according to the release, include, but are not necessarily limited to: energy conservation; employment and training; child care services; neighborhood assistance; substance abuse; open-space acquisition; crime prevention programs and affordable housing development.
The minimum contribution on which a tax credit may be granted is $250; the maximum $150,000, the release stated.
For further information about the Neighborhood Assistance Act Program or to receive an application packet, contact the town's economic development office at 203-256-3120 visit www.ct.gov/drs.
Businesses wishing to take advantage of the program to reduce their state tax liability may contact the town's economic development office for more information.