The Connecticut Neighborhood Assistance Act Tax Credit Program is an annual program designed to generate funding for municipal and tax exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to one or more of these entities.
The following agencies/programs are approved for participation in the 2009 NAA Program:
| |
|
%age approved contribution |
| CHENEY HALL FOUNDATION |
MANCHESTER |
60% |
| INTERVAL HOUSE |
HARTFORD |
60% |
| DIAL-A-RIDE |
MANCHESTER |
60% |
| NEW HOPE MANOR |
MANCHESTER |
60% |
| ST. JAMES SCHOOL |
MANCHESTER |
100% |
| BRIDGE FAMILY CENTER |
WEST HARTFORD |
60% |
Businesses can receive a credit of 60% of their approved contribution to certain programs approved by the Department of Revenue Services, or 100% of their approved contribution to certain "green programs".. Any tax credit that is not taken in the income year in which the contribution was made may be carried back to the two immediately preceding income years (beginning with the earlier of such years).
The program has several statutory limits which must be observed, including the following:
-A business is limited to receiving $75,000 in tax credit annually.
-A non-profit organization is limited to receiving $150,000 in contributions in the aggregate.
-The total charitable contributions of the contributing businesses must equal or exceed its prior year's amount.
-The minimum contribution on which credit can be granted is $250.
-The program has a five million dollar cap which, if exceeded, results in proration of approved donations.
Municipal and tax exempt organizations may develop programs that qualify for NAA benefits. Areas that qualify include, but are not limited to, energy conservation, employment and training, child care services, neighborhood assistance and substance abuse.
In 2008, the following contributions were pledged to Manchester programs:
- Lydall pledged $500 to Manchester Police Activities League, Homework Clubs
- Lydall pledged $500 to Cheney Hall toward roof replacement
- Lydall pledged $400 to MARC's Capital Campaign
- Lydall pledged $400 to New Hope Manor, Residential Program
- Associated Urologists pledged $250 to Dial-a-Ride of Manchester
- Manchester Medical Associates pledged $250 to Dial-a-Ride of Manchester
To Apply:
Tax exempt and Municipal entities: Neighborhood organizations and Connecticut Municipalities wishing to obtain benefits under the NAA must complete Form NAA-01 and return it to the Town of Manchester Human Services Department no later than Friday, April 6, 2009 in order to allow adequate time to prepare submissions for approval by the Board of Directors and onward forwarding to the Department of Revenue Services by its July 1 deadline.
An application form, number NAA-01, may be completed online, and printed from the DRS website. Go to --
http://www.ct.gov/drs/lib/drs/fillable_forms/2009forms/naa-01fill.pdf
Alternatively, please call Human Services Administration (860) 647-3092, and ask for an application package to be mailed to you.
Completed applications must be submitted to the Town. The Department of Revenue Services will not accept applications mailed directly to it.
Corporations: Businesses that wish to make a cash contribution to a qualified community program are required to complete Form NAA-02 between September 15 and October 1, 2009.
For further information, please call the Department of Revenue Services Research Unit during business hours, 8:00 a.m. to 5:00 p.m., Monday through Friday: 1-800-382-9463 (in state) or 860-297-5687 (anywhere). TTY, TDD and Text Telephone Users only may transmit inquiries 24 hours a day, seven days a week by calling 860-297-4911.
Forms and publications are available 24 hours a day, seven days a week:
- Internet: preview and download forms and publications from the DRS web site: www.ct.gov/drs
- DRS Tax Fax: call 860-297-5698 from the handset attached to your fax machine and select from the menu; or
- Telephone: call 1-800-382-9463 (in state) or 860-297-5687 (elsewhere)
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