2 Brookfield Businesses Approved For Tax Credit Program

DANBURY, CT — The State of Connecticut Department of Revenue Services has announced that it has approved three proposals from two Brookfield organizations for inclusion in the 2021 Neighborhood Assistance Act Tax Credit Program.

The NAA Tax Credit Program is designed to provide funding for municipal and tax exempt organizations by offering a corporation business tax credit for businesses who make cash contributions to these entities.

Two programs proposed by the Regional YMCA of Western Connecticut were approved by the state: contributions to the Camp Greenknoll Enhancement and Annual Support Program will be credited to 60 percent.

Contributions to the Regional Open Space Fund, proposed by WestCOG Foundation, Inc., will also be credited to 60 percent.

Businesses interested in requesting a tax credit under the CT NAA Tax Credit Program must electronically submit Form NAA-02 through the DRS website 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 will be available on the DRS website for electronic submission starting September 15 through October 1, 2021.

Submissions that are mailed, hand delivered, or emailed will not be accepted. Questions can be emailed to DRS.TaxResearch@po.state.ct.us or contact (860) 297-5687 for more information.