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 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  Code  §   (Prior  statute  repealed  as   Access  Tax  Credit  Fund,  as   $500  million  statewide.   17053.87  (current   of  Dec.  1,  2017,  but  new   allocated  by  the  California  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  Code  §   credit  through  2022   17053.86  (repealed   became  effective  January   operative  Dec.  1,  2017) 1,  2018.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