Wilton public hearing Monday on Tax Credit applications
The Wilton Board of Selectmen is holding a public hearing on Monday, June 3, to present applications to the CT Neighborhood Assistance Act Tax Credit Program.
The hearing will take place at 8 p.m. in Public Hearing Room B in Wilton Town Hall.
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.
This program is designed to provide funding for municipal and tax-exempt organizations by providing a corporation business tax credit for businesses which make cash contributions to these organizations.
Businesses can receive a credit of 60% of their approved contribution to certain programs (or 100% in the case of certain energy-conservation programs) approved by the CT Department of Revenue Services.
Last year, five Wilton tax-exempt organizations collectively received cash contributions from businesses in excess of $18,000 facilitated through this program, according to the first selectwoman’s office.