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 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.