NEIGHBORHOOD ASSISTANCE ACT TAX CREDIT PROGRAM
First Selectman Ken Kellogg announced that the Town of Monroe will participate in the state’s 2021 Neighborhood Assistance Act (NAA) program again this year. “I encourage municipal agencies and community non-profit organizations to submit proposals under NAA program,” said Kellogg. The program allows certain businesses to claim a state tax credit for monetary donations made to qualifying community programs conducted by tax exempt or municipal agencies. “We have many businesses that donate regularly to various community programs. If the business pays corporate taxes, this is an opportunity for them to benefit from a state tax credit,” said Kellogg.
Some of the programs that qualify for the NAA tax credit program include, but are not limited to:
- Community services
- Job training & education
- Crime prevention
- Child care services
- Substance abuse prevention or treatment
- Open space acquisition
The minimum contribution on which a tax credit may be granted is $250, and the maximum contribution that any non-profit or municipal entity can receive under this program is $150,000. Click here for more information regarding this program.
Organizations wishing to receive an application packet, and businesses interested in taking advantage of this program in order to reduce their state corporate tax liability, should contact the First Selectman’s Office at (203) 452-2821 or FS_Office@Monroe CT.org. Or go to the Connecticut Department of Revenue Services - Neighborhood Assistance Act Tax Credit Program Page
All applications must be submitted to the First Selectman’s Office and received by close of business on June 4, 2021 in order to be considered.