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 Nebraska Credit  for  Volunteer   Each  city,  village,  or  rural  or   $250   Neb.  Rev.  Stat.    §77-­‐3105   Responders suburban  fire  protection  district   ;Neb.  Rev.  Stat.    §77-­‐ must  file  with  the  Department   2715.07(2)(d)     of  Revenue  a  certified  list  of   those  volunteers  who  have   qualified  as  active  emergency   responders,  active  rescue  squad   members,  or  active  volunteer   firefighters  for  the  immediately   preceding  calendar  year  of   service  no  later  than  February   15.  Effective  for  taxable  years   beginning  on  or  after  January  1,   2017,  each  volunteer  on  this  list   will  receive  a  refundable  $250   credit  against  income  tax   imposed  beginning  with  the   second  taxable  year  in  which  the   volunteer  is  included  on  the  list.

second  taxable  year  in  which  the   volunteer  is  included  on  the  list. New  York The  New  York   Donation  of  conservation   25%  of  the  school  district,  county,   N.Y.    Tax  Law  §  606(kk)   Conservation  Easement   easement and  town  real  estate  tax  paid  on  the   (McKinney) Tax  Credit easement  property  (village  and  city   taxes  are  not  used  to  calculate  the   credit  and  special  assessments  are   also  not  considered),  available  each   year.    Limited  to  $5,000  per  year.   North  Carolina Nonitemizer  charitable   taxpayers  electing  the  standard   7%  of  the  taxpayer's  excess   N.C.  Gen.  Stat.    §105-­‐ contributions  tax  credit   deduction  under  N.C.  Gen.  Stat.     charitable  contributions 151.26   (repealed  2014)     §105-­‐134.6(a2)    are  allowed  a   credit  equal  to  7%  of  the   taxpayer's  excess  charitable   contributions.  The  taxpayer's   excess  charitable  contributions   are  the  amount  by  which  the  

excess  charitable  contributions   are  the  amount  by  which  the   taxpayer's  charitable   contributions  for  the  taxable   year  that  would  have  been   deductible  under  IRC  §170  if  the   taxpayer  had  not  elected  the   standard  deduction  exceed  2%   of  the  taxpayer's  adjusted  gross   income.