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 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.