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 North  Dakota Qualified  Endowment   A  credit  is  allowed  for  making  a   The  credit  is  equal  to  40%  of  the   N.D.  Cent.  Code    §57-­‐38-­‐ Credit charitable  gift  to  a  qualified   charitable  gift.  The  maximum  credit   01.21(2)   endowment. that  may  be  claimed  for  charitable   gifts  made  in  a  taxable  year  is   $10,000  for  an  individual  or  $20,000   for  married  individuals  filing  a  joint   return.  The  credit  may  not  exceed   the  taxpayer's  income  tax  liability.  .A   charitable  gift  used  as  the  basis  for   claiming  this  credit  may  not  be  used   as  the  basis  for  the  claim  of  a  credit   under  any  other  provision.   Oklahoma Energy  Conservation   Any  person  or

under  any  other  provision.   Oklahoma Energy  Conservation   Any  person  or  corporation  may   Income  tax  credit  against  the  state   Okla.  Stat.  Revenue  &   Assistance  Fund  credit   contribute  monies  to  the  Energy   personal  or  corporate  income  tax   Taxation  68  §  2357.6   (repealed)   Conservation  Assistance  Fund.     liability  of  fifty  percent  (50%)  of  the   (2010)  Repealed  by  Laws   amount  contributed  to  the  fund  for   2013,  c.  363,  §  4,  eff.   the  taxable  year  in  which  it  was   January  1,  2014)   made. Oklahoma Credit  for  contributions   Contributions  made  by   50%  of  the  contribution,  capped  at   Okla.  Stat.  §  2357.206(B) to  scholarship-­‐granting   individuals  or  corporations  to  a   $1,000  ($2,000  for  joint  filers).    If   organizations scholarship-­‐granting   total  annual  credits  exceed  $1.75   organization million  (either  for  individuals  and   married  filers  or  for  all  other  filers),   the  credit  allowed  will  be  adjusted   to  a  percentage  of  total  credits  

llowed  will  be  adjusted   to  a  percentage  of  total  credits   earned. Oklahoma Credit  for  contributions   Contributions  by  individuals  or   50%  of  the  contribution,  capped  at    Okla.  Stat.  §  2357.206(C) to  educational   corporations  to  an  educational   $1,000  ($2,000  for  joint  filers).    If   improvement  grant   improvement  grant  organization total  credits  claimed  annually   organizations exceed  $1.5  million  annually,  the   credit  allowed  will  be  adjusted  to  a   share  of  $1.5  million.   Oregon Credit  for  contributions   A  credit  is  available  for  amounts   The  credit  is  100%  of  contributions   Or.  Rev.  Stat.    §315.675   to  Trust  for  Cultural   contributed  to  the  Trust  for   to  the  Account  that  are  matched  by   Development  Account Cultural  Development  Account. an  equal  contribution  to  an  Oregon   cultural  organization.  The  credit  is   limited  to  the  lesser  of  the   taxpayer's  tax  liability  or  $500   ($1000  for  joint

taxpayer's  tax  liability  or  $500   ($1000  for  joint  filers). Oregon University  research  tax   State  public  universities  are   the  total  amount  of  the  credit   Or.  Rev.  Stat.    §315.521 incentives authorized  to  establish  venture   allowed  to  a  taxpayer  must  equal   development  funds  to  provide   60%  of  the  contribution  amount   capital  grants  for   stated  on  the  tax  credit  certificate,   entrepreneurial  programs  and   but  may  not  exceed  $600,000.  The   “proof  of  concept”  funding  for   credit  allowed  under  this  section  in   commercially  viable  products   any  one  tax  year  may  not  exceed   and  services. the  tax  liability  of  the  taxpayer  for   the  tax  year. Oregon Oregon  Capital   A  taxpayer  is  allowed  a  credit  for   A  taxpayer  is  allowed  a  credit  for   Or.  Rev.  Stat.    §315.504.   Corporation  Investment   20%  of  direct  cash  investment  in   20%  of  direct  cash  investment  in  the   Repealed  Jan.  1,  2006. Credit  (repealed) the  Oregon  Capital  Corporation. Oregon  Capital  Corporation.  Not   more  than  50%  of  the  tax  credit  can  

more  than  50%  of  the  tax  credit  can   be  claimed  in  the  tax  year  in  which   the  investment  is  made.    In  any  one   year,  the  tax  credit  cannot  exceed   the  taxpayer's  tax  liability.