State Program Makes Monroe Businesses Eligible For Tax Credits

MONROE, CT — The Town of Monroe will once again participate in the state’s 2022 Neighborhood Assistance Act program.

The program allows certain businesses to claim a state tax credit for monetary donations made to qualifying community programs conducted by tax exempt or municipal agencies.

"We have many businesses that donate regularly to various community programs. If the business pays corporate taxes, this is an opportunity for them to benefit from a state tax credit, said First Selectman Ken Kellogg.

Some of the programs that qualify for the NAA tax credit program include, but are not limited to:

• Community services
• Job training & education
• Crime prevention
• Child care services
• Substance abuse prevention or treatment
• Open space acquisition

The minimum contribution on which a tax credit may be granted is $250, and the maximum contribution that any non-profit or municipal entity can receive under this program is $150,000.

Organizations wishing to receive an application packet, and businesses interested in taking advantage of this program in order to reduce their state corporate tax liability, should contact the First Selectman’s Office at (203) 452-2821 or FS_Office@MonroeCT.org.

All applications must be submitted to the First Selectman’s Office and received by close of business on June 17, 2022 in order to be considered.

More details about the program are available on the state website.