Stonington Organization Approved For Neighborhood Assistance Program

STONINGTON, CT — The State of Connecticut Department of Revenue Services has just announced the approved proposals under the 2023 Neighborhood Assistance Act (NAA) Tax Credit Program. A Stonington organization was one of those approved

The NAA Tax Credit program is designed "to provide funding for municipal and tax-exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to these entities," according to the state.

Businesses can receive a credit of 60 percent of their approved contribution to certain programs (or 100 percent in the case of certain energy conservation programs) approved by the CT DRS.

In Stonington, the Stonington Community Center, Inc.'s Energy Conservation project was approved at 100% of a requested $150,000.