2012 Neighborhood Assistance Act Tax Credits Program
Looking to reduce your tax burden?
Virtually any Connecticut C-corp business can receive a 100% state tax credit by making a contribution to The Connection Fund through the State of CT Neighborhood Assistance Act (NAA) Tax Credits program.
The NAA Tax Credit Program is designed to provide funding for municipal and tax-exempt organizations like The Connection Fund by providing a Corporation Business Tax credit for businesses that make cash contributions to these entities. Businesses making a contribution to The Connection Fund through this program are eligible to receive a credit of 100% of their approved contributions by the CT Dept. of Revenue Services because funds will be directed to an energy conservation program. See tax exempt organizations approved for the 2012 NAA program (our listing is on Page 43).
Here's how it works:
The CT Department of Revenue Services has established that a Connecticut business entity subject to the Business Entity Tax can make a monetary donation of $250 to $150,000 to The Connection Fund. The business may qualify for a 100% NAA Tax Credit, and the credit may be used by members or partners of the entity that are subject to the Corporation Business Tax. The monetary donation must be made during your 2012 corporate tax year. Submit Form NAA-02 to CT Dept. of Revenue Services between September 15 and October 1, 2012. You will receive notification of your tax credit from the State before the end of 2012.
Your contribution will benefit local children and adults in need
The Connection Fund will direct your gift to support our Howe Street Energy Conservation Project for the purchase of up to $150,000 worth of energy efficient improvements. The amount of $150,000 is the aggregate allowed a nonprofit for any fiscal year. Annually, caring staff at our campus of the former New Haven YWCA at 48 Howe Street serve thousands of individuals and families through supportive housing, community justice, behavioral health, and women and children’s programs. For 40 years since our founding in 1972, we’ve seen real transformation demonstrated in the lives of deserving kids and adults in Greater New Haven and Connecticut, and your generous support will lift them from the depths of poverty, homelessness, addiction, crime, neglect and abuse. Learn more about our history and programs.
It’s easy to participate in the NAA Program!
1) Download the printable one page version of Form NAA-02. Consult your tax advisor if you have any questions. If you desire to contribute to more than one nonprofit organization, a separate Form NAA-02 must be completed for each gift.
2) Complete, sign and submit Form NAA-02 via postal mail or hand delivery to the CT Dept. of Revenue Services between September 15 and October 1, 2012. The address is on Form NAA-02. Under Part II (Program Proposal Information), the Organization is The Connection Fund, Inc.; Program title is Howe Street Energy Conservation Project; Municipality approving the program is City of New Haven.
3) Inform The Connection Fund of your decision to make a contribution to us through the NAA program. Contact Beth
4) Make your contribution (checks payable to The Connection Fund) before the end of your 2012 corporate tax year. Our mailing address is: The Connection Fund, Attn: Beth Connor, 100 Roscommon Drive, Suite 203, Middletown, CT 06457. All contributions will be acknowledged by The Connection Fund.
5) CT Dept. of Revenue Services will issue an approval letter to businesses which submit Form NAA-02 within the dates specified and submit contributions during the business' 2012 tax year according to program policies. The letter will indicate the tax credit amount that may be claimed on the applicable business tax return. For more information, contact CT Dept. of Revenue Services at 860-297-5687 or via email at DRS.TaxResearch@po.state.ct.us.
Thank you for your consideration of this mutually beneficial program!