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

 as  a  site  for  the   construction  of  a  school. Arizona Credit  for  donations  to   For  tax  years  Dec.  31,  2007   Up  to  $200  for  a  single  taxpayer   Ariz.  Rev.  Stat.  Ann.  §  43-­‐ the  military  family  relief   through  Dec.  31,  2018,  credit  for   $400  for  a  married  couple  filing   1086 fund docnations  made  to  the  Military   jointly  or  the  amount  of  tax  liability   Family  Relief  Fund. after  all  other  allowable  credits  are   applied,  whichever  is  lowest. Arkansas Contributions  in  Aid  of   Contributions  in  aid  of   33%  of  the  contribution,  no  to   Ark.  Code  Ann.  §  15-­‐4-­‐ Construction  of  Public   construction  of  public  roads   exceed  50%  of  the  net  Arkansas   2306 Roads project  to  the  Public  Roads   state  income  tax  liability  after  all   Incentive  Fund. other  credits  and  reductions  have   been  calculated;  unused  credit  may   be  carried  forward  for  three  years.

State Title  of  Credit Description Amount  of  Credit Statute Arkansas Wetland  and  riparian   Donations  of  wetland  and   50%  of  the  donated  property's  fair   Ark.  Code  Ann.  §  26-­‐51-­‐ zone  conservation  tax   riparian  zone  qualified  real   market  value  (excluding  short  term   1505(b) credit property  interest capital  gain),  up  to  $50,000;  the   credit  for  a  tax  year  cannot  exceed   the  lesser  of  tax  due  or  $5,000;   unused  credit  may  be  carried   forward  for  nine  years. California College  Access  Tax  Credit   Contributions  to  the  College   50%  of  the  contribution;  capped  at   Cal.  Rev.  &  Tax.  Code  §   (Prior  statute  repealed  as   Access  Tax  Credit  Fund,  as   $500  million  statewide.   17053.87  (current   of  Dec.  1,  2017,  but  new   allocated  by  the  California   version).    See  also  Cal.   statute  authorizing  the   Educational  Facilities  Authority Rev.  &  Tax.  Code  §   credit  through  2022  

.  &  Tax.  Code  §   credit  through  2022   17053.86  (repealed   became  effective  January   operative  Dec.  1,  2017) 1,  2018.    See  the  statutes   cited  at  the  right.) California Credit  for  donated   Donation  of  fresh  fruits  or   15%  of  the  qualified  value  of  the   Cal.  Rev.  &  Tax.  Code  §   agricultural  products vegetables  to  a  food  bank   fruits  or  vegetables 17053.88.5 located  in  California California Credit  for  transportation   Costs  incurred  in  connection   50%  of  the  cost  paid  or  incurred  in   Cal.  Rev.  &  Tax.  Code  §   of  donated  agricultural   with  the  transporation  of   conncetion  with  the  transportation   17053.12 products agricultural  products  donated  to   of  the  donated  products;  if  the   a  nonprofit  charitable   credit  is  claimed,  any  deduction   organization otherwise  allowed  is  reduced  by  the   amount  of  the  credit  allowed;   excess  credits  may  be  carried  over   until  exhausted California National  heritage   Contribution  of

until  exhausted California National  heritage   Contribution  of  property  that   55%  of  the  fair  market  value  of  the   Cal.  Rev.  &  Tax.  Code  §   preservation  tax  credits   has  been  approved  for   property;  this  credit  is  in  lieu  of  any   17053.30 (This  credit  is  scheduled   acceptance  by  the  Wildlife   other  credit  or  deduction;  excess   to  expire  June  30,  2020) Conservation  Board credits  can  be  caried  over  for  up  to   15  years   Colorado Child  Care  Contribution   Monetary  contributions  to  a   50%  of  the  total  qualifying   Colo.  Rev.  Stat.  Ann.  §  39-­‐ Credit  (This  credit  is   qualifying  child  care  facility  or   contribution  up  to  $100,000  or  the   22-­‐121 schedule  to  expire  Jan.  1,   program  to  promote  child  care   taxpayers  actual  tax  liability,   2020) in  Colorado  for  childred  aged  12   whichever  is  less;  excess  credit  can   or  under;  in-­‐kind  contributions   be  carried  forward  for  up  to  five   are  not  eligible  for  credit years Colorado Credit  for  donation  to   Food  donated  to  hunger  relief   25%  of  the  wholesale  market  price   Colo.  Rev.  Stat.  Ann.  §  39-­‐ food  banks  (This  credit  is   charitable  organizations;  the   or  20%  of  the  most  recent  sale  price,   22-­‐536 scheduled  to  expire  Jan.   credit  may  not  be

itable  organizations;  the   or  20%  of  the  most  recent  sale  price,   22-­‐536 scheduled  to  expire  Jan.   credit  may  not  be  claimed  by   not  to  xceed  $5,000;  excess  credit   1,  2020,  and  the  credit  is   taxpayers  who  have  claimed  the   may  be  carried  forward  for  up  to   repealed  effective  Jan.  1,   corporate  tax  credit  for  crop  or   five  years 2025) livestock  contributions  or  who   claim  a  deduction  for  the  food   donation  as  permitted  under   state  law

State Title  of  Credit Description Amount  of  Credit Statute Colorado Credit  for  contributions   Monetary  or  in-­‐kind   25%  of  the  total  value  of  the   Colo.  Rev.  Stat.  Ann.  §  39-­‐ to  enterprise  zone   contribution  to  implement  the   contribution  as  certified  by  the  zone   30-­‐103.5 administrators economic  development  plan  for   administrator  up  to  $100,000  or  the   an  enterprise  zone  to  the   total  income  tax  due,  whichever  is   designated  enterprise  zone   less;  in-­‐kind  contributions  cannot   administrator  or  to  a  program  or   exceed  50%  of  the  total  credit   organization  certified  to  receive   claimed,  i.e.  the  credit  for  in-­‐kind   contributions  by  the  zone   contributions  is  no  more  than  12.5%   administrator;  no  certification  is   of  the  value  of  the  contribution  up   required  if  the  contribution  is   to  a  maximum  credit  of  $50,000;   less  than  $250 excess  credits  can  be  carried   forward  for  up  to  five  years Colorado Gross  conservation   Donations    of  all  or  part  of  the   75%  of  the  first  $100,000  of  the  fair   Colo.  Rev.  Stat.  Ann.  §  39-­‐ easement

Donations    of  all  or  part  of  the   75%  of  the  first  $100,000  of  the  fair   Colo.  Rev.  Stat.  Ann.  §  39-­‐ easement  credit value  of  a  perpetual   market  value  of  the  donated  portion   22-­‐522 conservation  easment  in  gross   of  the  conservation  easment  in   on  property  they  own  to  a   gross  when  created  and  50%  of  all   governmental  entity  or   amounts  of  the  donation  over   charitable  organization  created   $100,000,  up  to  a  credit  cap  of  $1.5   at  least  two  years  before  receipt   million  per  donation;  if  a  charitable   of  the  conservation  easment;   deduction  is  claimed  for  federal   the  donation  must  be  of  a   income  tax  purposes,  the  amound   perpetual  conservation  easment   deducted  from  federal  taxable   in  gross  on  real  property  located   income  must  be  added  back  to   in  Colorado  and  must  qualify  as   federal  taxable  income  to  determine   a  qualified  conservation   Colorado  taxable  income contribution Colorado Water  resource   Subject  to  available  funding,  the   The  amount  of  credit  is  determined   Colo.  Rev.  Stat.  Ann.  §  39-­‐ conservation  and   Colorado  Water  Conservation   by  the  Colorado  Water

 credit  is  determined   Colo.  Rev.  Stat.  Ann.  §  39-­‐ conservation  and   Colorado  Water  Conservation   by  the  Colorado  Water  Conservation   22-­‐533 development  (Not   Board  can  approve  an  instream   board  and  may  not  exceed  one-­‐half   available  as  of  Jan.  1,   flow  incentive  tax  credit  of   the  value  of  the  water  right   2015;  statute  is  repealed   water  rights  for  income  tax   proposed  to  be  donated;  the  Board   effective  Dec.  31,  2024) years  begining  Jan.  1,  2009  and   cannot  issue  a  credit  certificate  if   ending  before  Jan.  1,  2015;  the   the  aggregate  sum  of  credits   credit  is  only  for  permanent   approved  and  not  yet  eligible  to  be   transfers  of  water  rights  on  a   taken  exceeds  $2  million;  excess   finding  that  the  proposed   credit  cannot  be  carried  forward donation  will  preserve  the   environment;  the  credit  is  not   avaiable  for  a  water  right  that  is   for  irrigation  on  land  for  which  a   conservation  easement  tax   credit  is  claimed  unless  the   water  rights  is  specifically   excluded  from  the  terms  of  that   easement Colorado Repealed  July  1,  2010  -­‐-­‐   Before  the

excluded  from  the  terms  of  that   easement Colorado Repealed  July  1,  2010  -­‐-­‐   Before  the  repeal  -­‐-­‐  Monetary   25%  of  the  total  monetary   Colo.  Rev.  Stat.  Ann.  §  39-­‐ High  technology   contributions  to  the  Colorado   contributions  up  to  15%  of  the   22-­‐523 scholarship  program High  Technology  Scholarship   income  taxes  due  for  the  year  the   Program;  dontations  o  f  stocks   credit  was  claimed;  excess  credit   and  bonds  did  not  qualify could  not  be  carried  forward

State Title  of  Credit Description Amount  of  Credit Statute Delaware Land  &  Historic  Resource   Permanent  gifts  of  land  or   40%  of  the  gift's  appraised  value;   30  Del.  Code  Ann.  §  1804 Conservation  Tax  Credit interest  in  land  to  public   $50,000  per  taxpayer;  Statewide  $1   agencies  and  qualified  private   million  per  year. non-­‐profit  charitable   organizations  for  purposes   of  open  space,  natural  resource,   biodiversity  conservation  or   historic  preservation. Delaware Neighborhood  Assistance   Credit  for  providing   50%  of  the  amount  contributed;   30  Del.  Code  Ann.  §  2004 Credit "neighborhood  assistance"  and   may  not  exceed  $50,000  per   for  making  contribution  to   taxpayer,  per  year  and  no  taxpayer   neighborhood  organizations   can  receive  more  than  $100,000  in   that  provide  neighborhood   tax  credits  during  any  three-­‐year   assistance  in  an  impoverished   period;  capped  at  $500,000/year   area  or  for  low  and  moderate   state-­‐wide. income  families.     District  of   Farm  to