For
a limited time, we can provide local businesses
Maryland Tax Credit in addition to a deduction
for a charitable gift. The Department
of Housing and Community Development is
administering this program to allow local
businesses to decide how some of their
tax dollars should be spent in priority
funding areas.
The
required minimum gift is $500.00. If you
can't use all of the tax credit this year,
the balance can be carried over for up to
five years!
A
few reasons your business wants to participates...
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Goals:
- Strengthen
the partnership between community
businesses and Kent &
Queen Anne's Hospital, a not-for-profit
organization located in a
priority funding area of the
State.
-
Empower your businesses; you
decide how to spend some of
your tax dollars.
- Build
support for the mission of
Kent & Queen Anne's Hospital.
-
Support programs that directly
benefit patients at Kent &
Queen Anne’s Hospital.
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Benefits:
- Your
dollars are kept in the local
your community!
- A
maryland State tax credit
will provided for your business
in addition to State and Federal
deductions for your charitable
gift.
- Together,
we can maximize Philanthropic
dollars are maximized
(net cost is approx. $0.27
on the dollar, or less)
-
A healthier community!
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Who may participate:
Any
business that conducts or operates
a trade or business in the State of
Maryland including S-corporations,
partnerships, sole proprietorships
and LLC’s.
Eligible contributions:
Any
Cash, stocks and in kind goods. (Note:
An independent and unrelated third
party must certify the value of your
contribution of any used goods. The
value of donated goods must be accompanied
by a receipt, evidencing the net cost
of the goods.)
Non-eligible
contributions:
Services
and real estate are not eligible for
tax credit.
How it works...
Tax
Credit: |
Minimum
Gift: |
Maximum
Gift: |
50%*
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$500.00
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$10,000.00 |
*Based
on your total contribution |
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Timing:
Credits must be used against taxes
owed for the year in which the gift
was made.
Any excess credits may
be carried over for five years. |
For
more information of how your business could
be a member of the the Neighborhood Tax
Credit Program, please contact Maryann M.
Ruehrmund, director of development, at (410)
778-3300, ext 4070 or send her an email
at [email protected].
All inquires are confidential.
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