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

State Title  of  Credit Description Amount  of  Credit Statute Kansas Capital   Aside  from  investment-­‐related   75%  of  the  contribution  amount;   Kan.  Stat.  Ann.  §74-­‐ Investment/Capital   items,  this  credit  includes:   $50,000  cap  per  contributor  for   99c02;  Kan.  Stat.  Ann.   Company  Investment Credit  for  contributions  to  the   contributions  to  the  Kansas  Center   §74-­‐99c09(c)-­‐(d);  Kan.   Kansas  Center  for   for  Entrepreneurship;  there  are  also   Stat.  Ann.  §74-­‐50,154(a)-­‐ Entrepreneurship;  and   caps  of  approx.  $2M  for  total  credits   (e) Credit  for  amounts  contributed   in  any  one  fiscal  year to  a  regional  foundation [There  is  also  a  Credit  for   Investing  in  a  Technology-­‐Based   Venture-­‐Capital  Corporation,   which  includes  a  possible  credit   for  gifts,  donations,  or  grants] Kansas Temporary  Assistance  to   For  tax  years  prior  to  2014,   70%  of  the  amount  of  financial   Kan.  Stat.  Ann.  §79-­‐ Families  (TAF)   income  tax  credit  for  providing   assistance. 32,200(e). Contribution  Credit financial  support  to  a  person   who  would  otherwise  be  eligible   to  receive  Aid  to  Families  with  

  who  would  otherwise  be  eligible   to  receive  Aid  to  Families  with   Dependent  Children  and  who   has  entered  into  an  agreement   with  the  Secretary  for  Children   and  Families.    After  2014,   available  to  corporations  only. Kansas Credit  for  contributions   Until  January  1,  2013,  any   The  credit  amount  cannot  exceed   Kan.  Stat.  Ann.  §79-­‐ made  to  law  enforcement   business  firm  or  individual  that   50%  of  the  total  amount   32,242 training  center  (Repealed   contributes,  gifts  or  donates  to   contributed,  gifted  or  donated   on  and  after  01/01/2013) the  Kansas  law  enforcement   during  the  taxable  year. training  center  to  be  used  for   providing  programs  and  courses   of  instruction  for  full–time   police  officers  and  law   enforcement  officers  designed   to  fulfill  continuing  education   and  training  requirements  will   be  allowed  a  credit  against  the   tax  imposed  by  the  Kansas   income  tax  act. Kansas Credits  for  contributions   Taxpayers  making  contributions   The  credit  amount  allowed  cannot   Kan.  Stat.  Ann.  §79-­‐ to  state  higher  education   to  state  higher  education  

 contributions   The  credit  amount  allowed  cannot   Kan.  Stat.  Ann.  §79-­‐ to  state  higher  education   to  state  higher  education   exceed  60%  of  the  total  amount   32,261(a) infrastructure   infrastructure  improvements   contributed  during  the  taxable  year   improvements  and   and  maintenance  projects  are   to  a  community  or  technical  college   maintenance  projects able  to  apply  tax  credits  against   and  cannot  exceed  50%  to  a   their  income  tax.  Taxpayers  who   postsecondary  educational   make  prescribed  contributions   institution.  After  tax  year  2008,   to  a  community  college  located   contributions  can  be  made  for  tax   in  Kansas  for  capital   years  2009,  2010,  2011,  and  2012   improvements,  a  technical   during  the  entire  tax  year. college  for  deferred   maintenance  or  the  purchase  of   technology  or  equipment,  or  a   postsecondary  educational   institution  located  in  Kansas  for   deferred  maintenance,  are   allowed  a  credit  against  their   income  tax.

State Title  of  Credit Description Amount  of  Credit Statute Kansas Individual  Development   For  tax  years  prior  to  2013  and   Up  to  75%  (prior  to  1/1/11,  50%)  of   Kan.  Stat.  Ann.  §74-­‐ Accounts after  2014,  a  person  or  entity   the  contribution  amount.    Total  tax   50,208 who  contributes  to  an  individual   credits  to  all  taxpayers  may  not   development  account  (IDA)   exceed  $500,000  in  any  fiscal  year. reserve  fund  administered  by  a   community-­‐based  organization   may  claim  a  refundable  tax   credit. Kansas Historic  Property   For  taxable  years  beginning  on    The  amount  of  the  credit  is  equal  to   Kan.  Stat.  Ann.  §79-­‐ Preservation  Credit or  after  December  31,  2006,  and   50%  of  the  contribution,  gift  or   32,211 until  June  2012,  taxpayers  that   donation  but  not  exceeding  $2,500   contribute,  gift  or  donate  at   for  any  one  taxpayer  in  any  one   least  $1,000  to  a  state-­‐owned   taxable  year.  The  total  amount  of   historic  site  or  historic  site   credits  allowed  in  any  one  fiscal  year   owned  or  operated  by  a  tax-­‐ must  not  exceed  $200,000.   exempt  nonprofit  organization  

owned  or  operated  by  a  tax-­‐ must  not  exceed  $200,000.   exempt  nonprofit  organization   are  entitled  to  a  refundable   income  tax  credit. Kansas Center  for   Contributions  to  the  Kansas   75%,  capped  at  $50,000  annually   Kan.  Stat.  Ann.  §  74-­‐ Entrepeneurship  Credit Center  for  Entrepeneurship   per  taxpayer  ($2  million  statewide). 99c09   Kentucky Agriculture  or  Husbandry   Applicable  to  taxable  years   The  credit  is  equal  to  10%  of  the   Ky.  Rev.  Stat.  Ann.   Related  Credits  -­‐  Food   beginning  on  or  after  January  1,   value  of  the  donated  edible   §141.392 donation  credit 2014  and  before  January  1,   agricultural  products. 2018,  a  nonrefundable  credit  is   available  against  the  corporate   income  tax,  the  personal  income   tax  and  the  limited  liability   entity  tax  to  qualified  taxpayers   who  donate,  free  of  charge,   edible  agricultural  products  to  a   nonprofit  food  program   operating  in  Kentucky.   Kentucky Endow  Kentucky  credit Taxpayers  who  donate  money  to   The  nonrefundable  credit  will  be   Ky.  Rev.  Stat.  Ann.   permanent  endowment  funds  of   equal  to  20%  of  the

it  will  be   Ky.  Rev.  Stat.  Ann.   permanent  endowment  funds  of   equal  to  20%  of  the  value  of  the   §141.438 qualified  community   endowment  gift  provided  by  the   foundations,  county-­‐specific   taxpayer,  not  to  exceed  $10,000. component  funds,  or  affiliate   community  foundations  may   claim  a  credit  against  the   corporate  or  personal  income   taxes  and  the  limited  liability   entity  tax. Louisiana Dedicated  Research   Before  June  17,  2013,  a  tax   The  credit  was  equal  to  35%  of  the   La.  Rev.  Stat.  Ann.   Investment  Fund   credit  could  be  claimed  for  a   cash  donation.  Unused  credit  can  be   §51:2203 donations  (repealed) taxpayer's  cash  donation  to  the   carried  forward  until  it  is  fully  used. Dedicated  Research  Investment   Fund  if  the  initial  donation  was   at  least  $200,000.

State Title  of  Credit Description Amount  of  Credit Statute Louisiana Donations,  contributions,   Effective  July  10,  2007  until   25%  of  the  amount  donated,   La.  Rev.  Stat.  Ann.   or  sales  below  cost  to   August  15,  2010  ,  a  tax  credit  is   contributed,  or  represented. §47:6031 certified  community   allowed  in  an  amount  equal  to   development   25%  of  the  amount  donated,   corporations  or  financial   contributed,  or  represented  by  a   institutions sale  below  cost  by  the  taxpayer   to  a  certified  community   development  corporation  or  a   certified  community   development  financial   institution,  as  approved  by  the   Department  of  Economic   Development. Louisiana Credit  for  donation  of   A  taxpayer  who  contributes,   The  credit  is  computed  at  the  rate  of   La.  Rev.  Stat.  Ann.  §47:37 high  technology   donates,  or  sells  tangible   29%  of  the  property's  value,  or  in   equipment movable  property  to   case  of  sale  below  cost,  29%  of  the   educational  institutions,  below   difference  in  price  received  for   cost,  is  allowed  a  credit  against   tangible  movable  property  by

low   difference  in  price  received  for   cost,  is  allowed  a  credit  against   tangible  movable  property  by  the   Louisiana  personal  income  tax. taxpayer  and  the  value  of  the   property. Louisiana Rebates  (effective   Taxpayers  who  file  Louisiana   The  amount  of  the  rebate  (effective   La.  Rev.  Stat.  Ann.   January  1,  2018,  credits)   income  tax  returns  can  claim  a   January  1,  2018,  the  credit)  is  equal   §47:6301 for  donations  to  school   rebate  (effective  January  1,   to  the  amount  of  the  taxpayer's   tuition  organizations 2018,  a  credit)  for  donations   donation  used  by  a  STO  to  fund  a   they  make  during  the  tax  year  to   scholarship  to  a  qualified  student,   a  school  tuition  organization   excluding  administrative  costs.   (STO)  that  provides  scholarships   Effective  for  donations  made  on  or   to  qualified  students  to  attend  a   after  January  1,  2018,  the  rebate  is   qualified  school. converted  to  a  nonrefundable   income  tax  credit. Louisiana Family  Responsibility   Individuals  are  allowed  a  credit   24%,  up  to  $144  per  year  or   La.  Rev.  Stat.  Ann.   Program against  tax  in  an  amount  equal  

 up  to  $144  per  year  or   La.  Rev.  Stat.  Ann.   Program against  tax  in  an  amount  equal   taxpayer's  total  tax  liability. §47:297(F) to  24%  of  amount  contributed   to  family  responsibility  program   under  La.  Rev.  Stat.  Ann.     §46:449 Louisiana Playground  donations Credit  for  cash,  equipment,   Equal  to  the  lesser  of  $720  or  .36  of   La.  Rev.  Stat.  Ann.   goods,  or  services  donated  to  a   the  value  of  the  cash,  equipment,   §47:6008 qualified  playground. goods,  or  services  donated.    The   total  amount  of  the  credits  taken  by   any  taxpayer  during  any  taxable   year  must  not  exceed  $1,000. Maryland Neighborhood  and   An  individual  or  business  entity   The  contributions  to  an  approved   Md.  Code  Ann.  Tax-­‐Gen.   community  assistance   can  claim  a  credit  against  the   project  must  be  worth  $500  or  more   §10-­‐704.6 program income  tax  for  contributions  to   in  goods,  money,  or  real  property.   neighborhood  and  community   The  credit  is  50%  of  the   assistance  projects.

neighborhood  and  community   The  credit  is  50%  of  the   assistance  projects. contributions  to  the  Neighborhood   and  Community  Assistance  Program   that  are  approved  by  the   Department  of  Housing  and   Community  Development.  The   credit  cannot  exceed  the  lesser  of   $250,000  or  the  total  amount  of  the   tax  otherwise  payable  for  the  tax   year.