Enterprise Zone: A Tax Incentive for Contributions to Laradon
What is an Enterprise Zone?
Is Laradon in an Enterprise Zone?
Can I donate to any Laradon program and get the Enterprise Tax Credit?
What affect does the Enterprise Zone have on my contribution to Laradon?
What if my tax credit exceeds my liability for that year?
How do I make a contribution to Laradon and receive this tax incentive?
What is an Enterprise Zone?
A geographically designated area in which certain tax credits are allowed in an effort to promote economic development in that area.
Is Laradon in an Enterprise Zone?
Yes!
Can I donate to any Laradon program and get the Enterprise Zone Tax Credit?
No. Enterprise Zone contributions must go to Laradon's Employment Services program in accordance with the rules and regulations of the Denver Enterprise Zone project.
What affect does the Enterprise Zone have on my contribution to Laradon?
- Monetary contributions of $250 or more to Laradon's Employment Services program may be eligible for a tax credit of 25%.
- In-kind donations and gifts of stock to Laradon's Employment Services program may be eligible for a tax credit of 12.5%.
- The contribution to Laradon must be for Laradon's Employment Services program that provides Job Training or it is not eligible.
- In addition, your contribution also receives state and federal tax deductions lowering the actual cost to you.
- For example: If you give a $500 monetary contribution, you will receive $125 tax credit. Your out-of-pocket expense is now only $375, yet Laradon receives $500!
- After the tax deductions, depending on your tax bracket, your contribution may cost you virtually nothing.
- Taxpayers should consult their financial or tax advisor regarding the benefits and limitations rlated to charitable contributions.
What if my tax credit exceeds my liability for that year?
Any excess credits may be carried forward for up to five years.
How do I make a contribution to Laradon and receive this tax incentive?
It is simple. Send your contribution to Laradon with a note designating it for Laradon's Employment Services program and as an Enterprise Zone contribution to:
Laradon
5100 Lincoln Street
Denver, CO 80216
303-296-2400 - Main Reception
866-381-2163 - Toll Free
Laradon will send you a signed form for you to include with your tax return.
This program is so easy and so beneficial. Thank you for your Enterprise Zone contribution.
