Tax program for businesses can help Wilton nonprofits
WILTON — Proposals by 14 Wilton nonprofits have been approved by the state Department of Revenue Services under the 2020 Neighborhood Assistance Act (NAA) Tax Credit Program.
The program is designed to provide funding for municipal and tax-exempt organizations by offering a tax credit for businesses that make cash contributions to these organizations.
Businesses can receive a credit of 60 percent of their approved contribution to certain programs (or 100 percent in the case of certain energy conservation programs) approved by the state Department of Revenue Services.
Last year, five Wilton tax-exempt organizations collectively received cash contributions from businesses in excess of $35,000 through this program, which resulted in total approved business tax credits of over $30,000 to Connecticut businesses.
Community programs that qualify for the NAA tax credit program include but are not limited to: energy conservation, education, community services, crime prevention, open-space acquisition fund, employment and training, child day care facilities, and child care services.
The Wilton-based programs and their funding requests approved in 2020 are:
A Better Chance of Wilton: $90,000, the cost for supporting five students at one ABC house for one academic year.
Apple Blossom School and Family Center: $105,770, child care center.
Friends of Ambler Farm, Ambler Farm: $12,187.41, nutrition program.
Friends of the Norwalk River Valley Trail (NRVT): $150,000, extension of NRVT in Wilton beyond Skunk Lane.
Riverbrook Regional YMCA: $21,053.54, after-school childcare program.
Stay at Home in Wilton: $18,879, home safety evaluations, and establishment of a database.
Trackside Teen Center: $30,930, energy-efficiency upgrades.
Trackside Teen Center: $40,000, middle school, after school, and weekend/evening programs.
Visiting Nurse & Hospice of Fairfield County: $20,000, community-based home care/home hospice service to homebound older adults.
Wilton Congregational Church: $98,677, insulation and boiler replacement.
Wilton Go Green: $15,000, Zero Waste Faire and Sustainable Living Expo.
Wilton Historical Society: $20,000, replace roof of c.1772 Sloan-Raymond-Fitch House.
Wilton Library Association: $7,146, security optimization for Brubeck Collection.
Wilton Youth Council: $6,600, Youth to Youth at Middlebrook School.
Woodcock Nature Center: $10,000, for Community Outreach programs.
To request a tax credit, businesses must complete Form NAA-02 online for each program it wishes to sponsor. The contribution must be in cash, and needs to be made in the corporations’ income year that corresponds to the same year as the approved program. The minimum contribution on which a tax credit can be granted is $250.
Forms must be submitted Sept. 15 through Oct. 1, 2020.
Businesses wishing to learn more about the NAA Tax Credit Program or access the online Form NAA-02 should visit the CT Neighborhood Assistance Act (NAA) Tax Credit Program website. Questions can be emailed to DRS.TaxResearch@po.state.ct.us or call 860-297-5687.
For more information on the program contact Sarah Gioffre in the first selectwoman’s office at email@example.com or 203-563-0129, ext. 1128.