Seymour Businesses Can Get Tax Credits For Nonprofit Contributions

The Town of Seymour First Selectman’s Office is happy to announce it will be participating in the Connecticut Neighborhood Assistance Act Tax Credit Program for the first time.

The Connecticut Neighborhood Assistance Act (NAA) Tax Credit Program is designed to provide funding for municipal and tax-exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to these entities, according to the state’s Department of Revenue Services.

The program provides tax credits of 60 percent to businesses that contribute to approved community programs put forth by nonprofits.

Eligible programs include job training, education, daycare, crime prevention, or programs servicing the elderly, handicapped, or disadvantaged.

The non-profit organization must apply to the Town of Seymour using form NAA-001’ found on the Department of Revenue Services website. Click here to download the form.

Applications are due by June 4 at 4 p.m. All applications will then be presented to the Seymour Board of Selectmen, and upon approval will be submitted to the Department of Revenue Services for final approval.

Any nonprofit’s program that has been selected by the DRS will be notified and then will have to secure businesses to donate to their program. Interested businesses would then apply to the DRS for their tax credit.

Any nonprofit interested in participating in the program should contact the Office of the First Selectman at 203 – 888-2511 with any questions.

More information about the program can be found online on the CT Department of Revenue Services website.

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