Neighborhood Assistance Program (NAP) Tax Credits for July 1, 2016 – June 30, 2017
Our Habitat for Humanity affiliate has been awarded a Neighborhood Assistance Program (NAP) Tax Credit Certificate and has been approved to offer up to $5,676 in state tax credits for donations received between July 1, 2016, and June 30, 2017. Individuals may be eligible for a state tax credit equal to 65% of the value of their cash or marketable securities donation (with a minimum donation of $500 for a $325 tax credit.) Trusts or Businesses may be eligible for a state tax credit of 65% of their donation’s value (with a minimum donation value of $616).
What does this mean for you? Donate $500 (individuals)/$616 (trusts or businesses) to Habitat for Humanity and take any eligible write-off on your Federal Taxes PLUS reduce your tax liability to the state by $325 (individuals) or $400 (businesses)! If you would like to learn more about how to make a donation to Habitat for Humanity that could help you earn state tax credits, please call Traci DeGroat at 703-369-6708 or via email for more information. Please contact your tax adviser for specific tax advice.