| Learn About the Main Street Tax Credit Incentive Program |
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How You can put your tax dollars to work in your community….Main Street Tax Credit Incentive Program Review your recent Excise Tax Return or call your accountant to determine how much state B&O tax you currently pay. Determine your contribution amount. Your tax credit will equal 75% of your charitable contribution (up to your total tax liability) and can be claimed in the following calendar year. Your donation must be received by December 31st 2011 and can be paid in installments. 1. Sign into your e-file account at http://dor.wa.gov 2. Click Credits & Tax Incentives in the left column. 3. Click Apply for Main Street Tax Credit .4. Click Continue with Application 5. Scroll the list and select Wenatchee Downtown Association and click next. 6. Enter the full amount of your contribution and click next. 7. Review the summary page and click Submit 8. You will receive a thank you notice. Print your receipt. 9. You will receive a confirmation of your registration from the Department of Revenue within 45 days.
Your tax credit will be granted as a part of your 2012 tax return. The full contribution must be paid to the Wenatchee Downtown Association prior to December 31st to take the credit in 2012.
Contribution example: You file and donate $1000.00 the WDA by December 31st, 2011. You receive a $750.00 tax credit on your B&O state tax liability in 2012. If your donation exceeds your liability, you will receive a credit equal to 75% of your total liability.
Please Note: As of February 4, 2010 the Wenatchee Downtown Association is a 501(c)(3) Non Profit Organization. Federal Tax ID: 91-0823589 Check with your tax consultant because there may be additional tax advantages you can take.
For more information contact Linda Haglund at 662-0059 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . |
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