This amazing program allows you to donate to the HDCA and then receive a TAX credit for 75% of that donation which you can apply directly to your next year’s B& O Taxes. This means your tax money stays here and directly contributes toward positive changes downtown instead of going to Olympia to be used elsewhere! Example: If you donate $1000 to HDCA through the B&O Tax Credit program, you get a $750 credit toward your B&O taxes for the following year! It’s a win/win that can’t be beat!
In 2005, Washington State legislation created the “Main Street Tax Credit Incentive Program.” Through the program, businesses are eligible to take a B&O tax credit for contributions given to eligible downtown revitalization organizations, including HDCA.
In effect, this program refocuses a portion of your B&O taxes towards Chelan – supporting our local organization and its mission to support Historic Downtown Chelan.
To take advantage of the Main Street Tax Credit by donating to HDCA during 2016 you must first be approved by the Department of Revenue and e-file. Click here for step-by-step screen shot instructions provided by the Department of Revenue. Your tax credit will be available when you pay your taxes online during 2016. If you’d like more details, we can meet with you or have our accountant meet with you to further explain.
For additional information please contact HDCA at firstname.lastname@example.org or 509.682.4322.
Your support is very much appreciated!