|1/9/2014 11:45:00 AM|
downtown via the main
street tax credit incentive program
|Submitted by Cindy Salazar HDCA Executive Director|
The Historic Downtown Chelan Association (HDCA) announced it received $127,388 in 2013 donations from businesses through Washington State's "Main Street Tax Credit Incentive Program."
Through the Main Street Tax Credit Incentive Program, Washington state businesses are eligible for a B&O tax credit for contributions given to eligible downtown revitalization organizations, including HDCA. In effect, this gives businesses a choice about where their B&O tax dollars are spent.
A total of 15 businesses donated to HDCA by Dec. 31, 2013 through the Main Street Tax Credit Incentive Program.
"HDCA sincerely appreciates the donations made by these business" said Barb Wadkins, Chair of HDCA's Organization Committee and owner of Lake Chelan Sports. "This is the most funding HDCA has ever received through the B&O Tax Credit program and we appreciate the support as it will allow us to enhance our work downtown. HDCA is spending $8,000 of the donations to sponsor ice carving blocks for this month's Lake Chelan Winterfest event and additional funds will support downtown hanging flower baskets, downtown project review work in conjunction with the City of Chelan, developing a historical building plaque program and other events and projects that help HDCA in its mission to develop and promote Chelan's historic core."
Any business in Washington state may take advantage of the Main Street Tax Credit Incentive Program and donate to HDCA during 2014. In addition to the satisfaction of helping ensure a vibrant community center in Chelan, the donor receives 75 percent of their 2014 contribution as a credit against their 2015 B&O tax liability and the full mount of their contribution may qualify as a 501(c) 3 charitable deduction on their 2014 IRS tax return.
For further information about the Main Street tax Credit Incentive Program, interested business owners or accountants may call Barb Wadkins at 509-682-2629 or the HDCA office at 509-682-4322.
Information is also available on the HDCA website, www.historicchelan.org
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