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 Utah Qualified  sheltered   Contributions  made  by   50%  of  contributions,  to  maximum    Utah  Code  Ann.  §  59-­‐10-­‐ workshop  cash   claimants,  estates  or  trusts  to  a   of  $200/year. 1004 contribution  credit   qualified  nonprofit   rehabilitation  sheltered   workshop  facility  for  the   handicapped  operating  in  Utah   and  certified  by  the  Department   of  Human  Services Virginia Land  Preservation  Tax   Donations  of  conservation  land   40%  of  fair  market  value  of  the   Va.  Code  Ann.  §  58.1-­‐512 Credit or  easements  conveyed  for  the   donation,  capped  at  $100,000  per   purpose  of  agricultural  and   taxpayer  annually,  and  $75  million   forestal  use,  open  space,  natural   statewide.   resource,  and/or  biodiversity   conservation,  or  land,   agricultural,  watershed  and/or   historic  preservation Virginia Food  crop  donation  tax   Donations  of  food  crops  grown   30%  of  the  fair  market  value  of  the   Va.  Code  Ann.    §58.1-­‐ credit

Donations  of  food  crops  grown   30%  of  the  fair  market  value  of  the   Va.  Code  Ann.    §58.1-­‐ credit by  the  taxpayer  (whether   food  crops,  capped  at  $5,000  per   439.12:12(B)   individual  or  corporate)  in   taxpayer  annually,  and  $250,000   Virginia  to  a  nonprofit  food  bank statewide.   Virginia Neighborhood  Assistance   Monetary  donation  or  a   65%  of  the  value  of  the  donation;   Va.  Code  Ann.  §  58.1-­‐ Act  Tax  Credit donation  of  marketable   the  minimum  donation  is  $500  and   439.24 securities  to  an  approved   the  maximum  donation  for  which  a   neighborhood  organization credit  can  be  obtained  is  $125,000   per  year.  No  more  than  $500,000  in   tax  credits  may  be  approved  per   year.   Virginia Education  Improvement   Donations  of  cash  or  marketable   65%  of  the  donation.    For   Va.  Code  Ann.  §  58.1-­‐ Scholarships  Tax  Credit securities  to  approved   individuals,  donation  must  be  at   439.26   scholarship  foundations  that   least  $500,  and  no  credit  will  be   provide  scholarships  to  eligible   provided  for  donations  above   students  for  non-­‐public  schools

provide  scholarships  to  eligible   provided  for  donations  above   students  for  non-­‐public  schools $125,000.   West  Virginia Neighborhood   Cash,  personal  or  real  property,   Up  to  50%  of  the  taxpayer's  eligible   W.  Va.  Code  §§  11-­‐13J-­‐1-­‐ Investment  Program  Tax   or  stock  contributions  (by  an   contribution  (valued  at  fair  market   12.   Credit. individual  or  business)  to  a   value  for  personal  or  real  property   qualified  charitable  community-­‐ or  stock,  75%  for  in-­‐kind   based  organization  that   professional  services).    Capped  at   establishes  projects  to  assist   $100,000  per  taxpayer  annually,  and   neighborhoods  and  local   $3  million  statewide.   communities  through  such   services  as  health  care,   counseling,  emergency   assistance,  crime  prevention,   education,  housing,  job  training   and  physical  and  environmental   improvements.