Community Investment Tax Credits Are Available!
Community Investment Tax Credits allow individual and business donors to receive State tax credits by donating to qualified nonprofit organizations. The tax credit equals half of the donation value; for example a donation of $1,000 will be eligible for $500 in Maryland State tax credits.
- The minimum eligible donation is $500.
- Both businesses and individuals are eligible for tax credits.
- The tax credits may only be applied to Maryland State taxes.
- Tax credits must be used in the same year they are awarded. If credits exceed the amount of taxes owed, you may apply the excess credit to the following tax year. Excess credits may be applied up to five years after the tax year in which the donation was made.
Contact Elizabeth Shatto for more information: firstname.lastname@example.org, 240-285-6727.