The 2019 CT Neighborhood Assistance Act (NAA) Tax Credit Program 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.
Community programs that qualify for the NAA tax credit program include but are not limited to: energy conservation, education, community services, crime prevention, open space acquisition fund, employment and training, child day care facilities, and child care services. 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 Department of Revenue Services. The minimum contribution on which a tax credit may be granted is $250 and the maximum contribution that any organization or agency can receive under this program is $150,000. 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, you can visit: Neighborhood Assistance Act Tax Credit Program.
The Town of Wilton will be the overseeing municipal agency coordinating and submitting applications from interested Wilton town departments and Wilton tax exempt organizations. Questions about the program can be directed to Sarah Gioffre at sarah.gioffre@wiltonct.org or (203) 563-0129, x 1128.
Organizations wishing to participate:
If your department or tax exempt organization is interested in participating in the program, please do the following:
- Notify the Town that you intend to participate. Send an email to Sarah Gioffre, Office of First Selectwoman, Town of Wilton at sarah.gioffre@wiltonct.org by no later than May 1, 2019.
- Complete a 2019 CT Neighborhood Assistance Act Program Proposal Form (Form NAA-01) and submit it to the Town of Wilton, Office of First Selectwoman, Attn. Sarah Gioffre, 238 Danbury Road, Wilton CT 06897 or by email at sarah.gioffre@wiltonct.org by May 24, 2019.
- As overseeing municipal agency, the Town of Wilton must 1) complete Section IV of all NAA-01 forms, 2) hold a public hearing on all program applications (this will be done at the June 3, 2019 Board of Selectmen meeting), and 3) submit all approved NAA-01 forms to CT Department of Revenue Services (DRS) no later than July 1, 2019.
Each business requesting 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, 2019. Businesses may mail or hand deliver their applications. In addition, applications may be submitted electronically by emailing Form NAA-02 to NAAProgram@ct.gov. No fax transmittals will be accepted.
Questions about the program can be emailed to DRS.TaxResearch@po.state.ct.us or contact 860-297-5687 for more information.