57-18 Exhibit - Urging State of New Jersey to Implement Charitable Trust in Lieu of Local Taxes Plan.pdf

allows  a  credit  to  taxpayers  who   each  qualified  access  to  state  land   provide  “qualified  access  to   that  is  provided.  The  maximum   state  land,"  meaning  an  access   credit  that  a  taxpayer  may  claim  in  a   or  corridor  established  through   year  under  this  provision  is  $3,000   a  taxpayer's  property  to  a  parcel   ($2,000  prior  to  January  1,  2016). of  public  land  for  recreational   use  and  certified  by  the   Department  of  Fish,  Wildlife,   and  Parks   Montana Innovative  Educational   Donations  to  educational   100%;  capped  at  $150  annually  per   Mont.  Code  Ann.  §  15-­‐30-­‐ Program  Credit improvement  accounts,  which   taxpayer  ($3  million  statewide) 3110 provide  supplemental  funding  to   public  schools  for  "innovative   educational  programs  and   technology  deficiencies" Montana Tax  Credit  Scholarship  Donations  to  school  scholarship   100%;  capped  at  $150  annually  per   Mont.  Code  Ann.  §  15-­‐30-­‐ Program organizations  that  fund  private   taxpayer  ($3  million  statewide  cap  in   3111 school  K-­‐12  scholarship 2016,  subject  to  change  in  later   years) Nebraska Community  Development   Under

2016,  subject  to  change  in  later   years) Nebraska Community  Development   Under  the  Community   The  maximum  credit  is  40%  of  the   Neb.  Rev.  Stat.    §13-­‐203   Assistance  Act  Credit   Development  Assistance  Act   amount  it  contributed  to  an   (CDDA),  a  credit  is  available   approved  program  during  its  tax   against  the  corporate  income   year.  Credits  are  not  allowed  for   tax,  personal  income  tax,   activities  which  are  a  normal  part  of   financial  institutions  franchise   a  taxpayer's  business tax  and  insurance  tax  for   contributions  to  a  community   betterment  program  in   community  development  areas,   which  are  areas  that  the   Department  of  Economic   Development  has  certified  as  an   area  of  chronic  economic   distress.  These  programs  are   administered  by  nonprofit   community  service   organizations,  business   development  organizations,  or   local  government  units.  Eligible   programs  involve  such  activities   as  job  training,  crime   prevention,  medical

programs  involve  such  activities   as  job  training,  crime   prevention,  medical  services   and  recreational  activities

State Title  of  Credit Description Amount  of  Credit Statute Nebraska Credit  for  Volunteer   Each  city,  village,  or  rural  or   $250   Neb.  Rev.  Stat.    §77-­‐3105   Responders suburban  fire  protection  district   ;Neb.  Rev.  Stat.    §77-­‐ must  file  with  the  Department   2715.07(2)(d)     of  Revenue  a  certified  list  of   those  volunteers  who  have   qualified  as  active  emergency   responders,  active  rescue  squad   members,  or  active  volunteer   firefighters  for  the  immediately   preceding  calendar  year  of   service  no  later  than  February   15.  Effective  for  taxable  years   beginning  on  or  after  January  1,   2017,  each  volunteer  on  this  list   will  receive  a  refundable  $250   credit  against  income  tax   imposed  beginning  with  the   second  taxable  year  in  which  the   volunteer  is  included  on  the  list.

second  taxable  year  in  which  the   volunteer  is  included  on  the  list. New  York The  New  York   Donation  of  conservation   25%  of  the  school  district,  county,   N.Y.    Tax  Law  §  606(kk)   Conservation  Easement   easement and  town  real  estate  tax  paid  on  the   (McKinney) Tax  Credit easement  property  (village  and  city   taxes  are  not  used  to  calculate  the   credit  and  special  assessments  are   also  not  considered),  available  each   year.    Limited  to  $5,000  per  year.   North  Carolina Nonitemizer  charitable   taxpayers  electing  the  standard   7%  of  the  taxpayer's  excess   N.C.  Gen.  Stat.    §105-­‐ contributions  tax  credit   deduction  under  N.C.  Gen.  Stat.     charitable  contributions 151.26   (repealed  2014)     §105-­‐134.6(a2)    are  allowed  a   credit  equal  to  7%  of  the   taxpayer's  excess  charitable   contributions.  The  taxpayer's   excess  charitable  contributions   are  the  amount  by  which  the  

excess  charitable  contributions   are  the  amount  by  which  the   taxpayer's  charitable   contributions  for  the  taxable   year  that  would  have  been   deductible  under  IRC  §170  if  the   taxpayer  had  not  elected  the   standard  deduction  exceed  2%   of  the  taxpayer's  adjusted  gross   income.

State Title  of  Credit Description Amount  of  Credit Statute North  Carolina Real  Property  Donated   For  tax  years  prior  to  2014,  an   For  tax  years  beginning  on  or  after   N.C.  Gen.  Stat.    §105-­‐ for  Public  or  Conservation   individual  or  pass-­‐through  entity   January  1,  2007,  the  aggregate   151.12(a)  ,  repealed   Purposes  (repealed  2014) that  makes  a  qualified  donation   amount  of  credit  allowed  to  an   effective  for  taxable  years   of  an  interest  in  real  property   individual  in  a  taxable  year  for  one   beginning  on  or  after   located  in  North  Carolina  during   or  more  qualified  donations,   January  1,  2014 the  taxable  year  that  is  useful   whether  made  directly  or  indirectly   for  public  beach  access  or  use,   as  owner  of  a  pass-­‐through  entity,   public  access  to  public  waters  or   may  not  exceed  $250,000.  In  the   trails,  fish  and  wildlife   case  of  property  owned  by  a   conservation,  forestland  or   married  couple,  if  both  spouses  are   farmland  conservation,   required  to  file  North  Carolina   watershed  protection,   income  tax  returns,  the  credit   conservation  of

watershed  protection,   income  tax  returns,  the  credit   conservation  of  natural  areas,   allowed  may  be  claimed  only  if  the   conservation  of  natural  or  scenic   spouses  file  a  joint  return.  The   river  areas,  conservation  of   aggregate  amount  of  credit  allowed   predominantly  natural  parkland,   to  a  husband  and  wife  filing  a  joint   or  historic  landscape   tax  return  may  not  exceed   conservation  is  allowed  a  credit   $500,000. against  the  personal  income  tax. North  Carolina Oyster  Shell  Tax  Credit   Effective  for  tax  years  beginning   $1  per  bushel  of  oyster  shells   N.C.  Gen.  Stat.    §105-­‐ (repealed  2014) on  or  after  January  1,  2006  and   donated 151.30(a)  ;  N.C.  Gen.  Stat.   expiring  for  tax  years  beginning    §105-­‐151.30(f)   on  or  after  January  1,  2014,   taxpayers  who  donate  oyster   shells  to  the  Division  of  Marine   Fisheries  of  the  Department  of   Environment  and  Natural   Resources

he  Department  of   Environment  and  Natural   Resources  are  eligible  for  a  tax   credit  against  personal  income   tax   North  Carolina Donatation  of  Gleaned   For  tax  years  prior  to  2014,  a   10%  of  the  season  average  price  of   N.C.  Gen.  Stat.    §105-­‐ Crops  (repealed  2014)   grower  who  donates   the  crop 151.14(a)  ,  repealed   unharvested  crops  located  in   effective  for  taxable  years   North  Carolina  to  a  qualifying   beginning  on  or  after   charitable  organization  is   January  1,  2014 allowed  a  credit  of  10%  of  the   season  average  price  of  the  crop   as  determined  by  the  North   Carolina  Crop  and  Livestock   Reporting  Service  or  the  average   price  of  the  crop  in  the  nearest   local  market  for  the  month  in   which  the  crop  is  gleaned  if  the  

local  market  for  the  month  in   which  the  crop  is  gleaned  if  the   Crop  and  Livestock  Reporting   Service  does  not  determine  the   season  average  price.