Community Development Projects

 

Sponsors of community development projects can offer a 25% tax credit (using Zone Capital Credits) on New York State personal or corporate income taxes for donations (monetary contributions only).  There are some requirements and limits.

 

·        The project sponsor must be a not-for-profit entity and must request an allocation of Zone Capital Credits from the Zone Administrative Board prior to soliciting donations.

·        The project must serve Zone residents and/or businesses and must be a child-care project, a business development activity of a local development corporation (LDC), or a community development project supporting economic development and/or business revitalization activities.

·        Project funds raised using Zone Capital Credits should be used for non-recurring expenses (such as a capital project) and must not be used to replace existing debt.

·        Each taxpayer is limited to a $100,000 tax credit in this category.

 

Contact the Empire Zone Coordinator at 315 376 5919

for more information or e-mail dpell@lewiscountyny.org

 

Current Allocation: $1,500,000