Enterprise Zone - Contribution Tax Credits
One of the Enterprise Zone credits pertains to designating a project or organization as an Enterprise Zone Contribution Project. There are about 27 Enterprise Zone Contribution Projects currently designated in Southwest Colorado. This designation allows contributors of approved projects to receive a 25% State Tax Credit for cash donations to that Enterprise Zone Project and a 12.5% State Tax Credit for in-kind contributions. Click here to view list of current approved projects.
For contributions to be eligible for the Contribution Tax credit they must:
- Donations must be made to an approved EZ project
- Donation must meet the minimum dollar amount set by that organization (ranges from $100 - $250)
- Donors must have a 0075 form for their tax return
Projects are limited to $3 million cash and/or $6 million in-kind in Enterprise Zone donations per year.
Becoming a designated EZ Project
Eligible projects include:
- Job Assistance for the homeless: assist homeless shelters to provide job training, placement and employee-related support services to the homeless.
- Implement the economic development plan of the enterprise zone - must be directly related to job creation or job preservation;
- Business Assistance (Management Training and Counseling, Incubator, Small Business Finance Funds, Feasibility Studies, etc.)
- Rural Health Care Facilities
- Infrastructure Projects (water, sewer, transportation, telecommunications, etc.)
- Job Training
- Marketing (for business economic, and business district development)
- Community Development projects
- Housing/homelessness
Steps for Designation
Please click here to view all steps for designation.
For any questions please contact Region 9.
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