15 Wilton Orgs Score Neighbor Assistance Act Tax Credit Help

WILTON, CT — The State of Connecticut Department of Revenue Services has just announced the approved proposals under the 2021 Neighborhood Assistance Act Tax Credit Program.

The NAA Tax Credit program provides a corporation business tax credit for businesses which make cash contributions to organizations’ approved program proposals.

Wilton organizations and their approved program proposals are:

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. Last year, six Wilton tax-exempt organizations collectively received cash contributions from businesses in excess of $45,000 facilitated through this program.

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.

The Town of Wilton is the overseeing municipal agency for the Wilton-based programs.