Businesses that donate to nine approved Wilton programs can now earn tax credit for their generosity.

The State of Connecticut’s Department of Revenue Services (DRS) has announced its approved program proposals under the 2018 CT Neighborhood Assistance Act (NAA) Tax Credit Program. All nine of the Wilton program proposals submitted were approved by the DRS. A list of the approved program proposals is available on the DRS website.

Nine Town of Wilton and Wilton-based tax exempt organizations submitted proposals which were reviewed and approved by the Board of Selectmen at their June 18, 2018 meeting. Proposals were then submitted to the DRS for review. The Town of Wilton is the overseeing municipal agency coordinating and submitting applications for the 2018 CT NAA Tax Credit Program for Town of Wilton and Wilton based tax exempt organizations.

Businesses now have an opportunity to make cash contributions to any of these approved programs and receive a credit of up to 60% of their approved contribution (or 100% in the case of certain energy conservation programs). Interested businesses may contact the organizations directly to learn more about their program proposals:

Name of Organization Program Email Contact
Town of Wilton-Department of Social Services Food Pantry Sarah Heath
Friends of Ambler Farm School Field Trip Experiences for Underserved Youth Robin Clune
Friends of the NRVT WilWalk Section of the NRVT Charlie Taney
Riverbrook Regional YMCA Afterschool Child Care Christene Freedman
Wilton Community Assistance Fund (AKA Wilton Interfaith Council) Emergency Financial Assistance Sarah Heath
Wilton Land Conservation Trust Save 183 Ridgefield Road Donna Merrill
Wilton Library Association Automatic Energy Control Systems/Building Automation Robin Axness
Wilton Track Association Back the Track Wilton Bev Hermann
Wilton Youth Council Wilton Youth Council Executive Director Colleen Fawcett

Businesses wishing to request a tax credit under the CT NAA Tax Credit Program must complete a separate Form NAA-02 for each program it wishes to sponsor. The contribution must be cash, and needs to be made in the corporation’s income year that corresponds to the same year as the approved program. Form NAA-02 must be submitted to CT DRS beginning September 15 through October 1, 2018. Businesses may mail or hand deliver their applications. In addition, Form NAA-02 applications may be submitted electronically via email. No fax transmittals will be accepted. Questions can be submitted via email or contact 860.297.5687 for more information.

The 2018 CT NAA Tax Credit Program is designed to provide funding for municipal and tax exempt organizations by providing a corporation business tax credit for businesses which make cash contributions to these organizations. Businesses can receive a credit of 60% of their approved contribution to certain programs (or 100% in the case of certain energy conservation programs) approved by the CT DRS. Any tax credit that is not taken in the income year in which the contribution was made may be carried back to the two immediately preceding income years. For more information on the program, visit the CT Neighborhood Assistance Act (NAA) Tax Credit Program online.