If your business is a nonprofit helping drive local economic development by creating and/or retaining jobs in an Enterprise Zone, your donors may be eligible for Enterprise Zone Contribution Tax Credits.
If so, your donors could receive a Colorado income tax credit for 25% of cash contributions, up to a maximum credit of $100,000, and/or 12.5% for in-kind contributions, such as labor, materials, desks, computer equipment, or stock.
Eligible projects include:
- Homeless Shelters offering or providing referrals to child care, job placement, and counseling services;
- Business Assistance including management training and counseling, incubators, finance funds, and feasibility studies;
- Job Training Projects directed at specific skill training in cooperation with business and industry;
- Infrastructure Projects serving businesses, including water, sewer, transportation, telecommunications, streetscaping, business and industrial parks;
- Marketing for business, economic and business development;
- Rural Health Care Facilities that are identified in a rural Enterprise Zone’s development plan; and
- Community Development Projects promoting nonprofit or government-funded community development projects.
Serving Delta, Gunnison, Hinsdale, Montrose, Ouray, and San Miguel counties
- Contact your local Enterprise Zone Administrator (EZA) by calling Region 10 at 970.249.2436 or emailing firstname.lastname@example.org
- The EZA will provide the proposed project information on the state requirements and application process.
- An application form and proposal must be completed and submitted to the EZA.
- All projects must be approved by the State Enterprise Zone Commission in order to be able to receive contributions.
- Projects must be recertified each year in order to continue to receive contributions.
- The EZA will work with Project Coordinator to complete the donor certification form (DR0075).
- The donor must complete, sign, and attach the DR0075 form to his/her Colorado Income Tax in order to receive the tax credit.
Call today to find out how your donors can get more bang for their donation buck.