DRS: Commissioner Sullivan Announces Eligible Neighborhood Assistance Tax Credit

Commissioner Sullivan Announces Eligible Neighborhood Assistance Tax Credit


Community needs in 44 cities and towns to benefit

 

 For Immediate Release:
 Thursday, December 10, 2015
                                                                       

 

Hartford - Commissioner of Revenue Services Kevin B. Sullivan today praised the state’s corporate community for pledging nearly $5.65 million in cash donations to local community organizations and nonprofits. Through the state’s Neighborhood Assistance Act Tax Credit Program corporations receive information about projects in need of funding.

 

Said Commissioner Sullivan, “Every year I am proud to see how our corporate citizens give back to our communities through programs that improve the education, safety, and quality of life of Connecticut residents. This public/private effort makes our state a better place to live and work for everyone.”

 

The Neighborhood Assistance Act Tax Credit Program provides a total of $5 million in corporate income tax credits to businesses that make cash donations to community agencies and programs identified by municipalities. Local governments send the Department of Revenue Services (DRS) the names of organizations and the projects in need of funding that meet the program criteria.

 

Said Commissioner Sullivan, “Nearly every community in Connecticut has an organization in need of financial assistance. It could be money for job training for disabled youth, funding to replace a boiler at a church, or helping a visiting nurses service buy new computers. The Neighborhood Assistance Act and our corporate citizens make is easier for these groups to continue the important work they do.”

 

Letters notifying corporations about the amount of tax credits they will receive once they complete their donations are being sent this week. A list of communities, organizations, projects, and funding is on the DRS website.

 

Media calls should be directed to the communications office at (860) 297-5610 or emailed to sarah.kaufman@po.state.ct.us.

 

For more information about Connecticut tax issues, please visit the DRS web site at www.ct.gov/DRS or call 1-800-382-9463 in state, or (860) 297-5962 from anywhere.

 

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Content Last Modified on 12/10/2015 2:44:47 PM