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Tax credits extended

Monday, September 13, 2010   (0 Comments)
Posted by: Andrea Yoxall
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Tax credits to benefit Seward County Community College/Area Technical School are once again available to individuals and corporations.

The Kansas Department of Revenue provides an opportunity for individual taxpayers as well as business and corporate entities that pay Kansas income tax to benefit by supporting Seward County Community College/Area Technical School. The donors of these funds may be awarded a tax credit equal to 54 percent of their donation upon approval by the Kansas Department of Revenue.  Seward County Community College/Area Technical School is able to benefit by utilizing the donations for identified deferred maintenance projects.  Funds must be used for campus deferred maintenance items and cannot be used for the purchase of property, construction of student dormitories, or construction of athletic facilities. 

The college has a number of deferred maintenance projects eligible for the use of the funds. The contribution can be specified for use in a particular project or the donor can request the contribution to be applied toward a specific project, which is not on the deferred maintenance list.  The specified project can be presented to the Board of Trustees for review and approval within the restrictions of the Department of Revenue guidelines.

The Board of Trustees has established a minimum contribution of $500 to the college for deferred maintenance projects that would qualify for participation in the tax credit program. The legislation provides an opportunity for donors to participate throughout the 2011-12 school year.

Dr. Duane Dunn, SCCC/ATS president, said the college is excited that the program to provide continued tax benefits to a donor has been extended. This program can provide additional incentives for the donor to support SCCC/ATS.  The tax credit can be a great opportunity at a time when everyone is looking for opportunities to reduce expenditures.  "For over 40 years SCCC/ATS has offered a wide variety of classes and these tax credits can help the college continue to improve its facilities. Since the merger with the Area Technical school, the college has made a number of improvements to the technical school site.

With a $1,000 donations, the taxpayer may be eligible to deduct a maximum of $460 as a charitable donation on the federal return and would receive a $540 Kansas tax credit to be applied against his or her state tax liability.

Individuals, corporations, and non-profit entities are encouraged to contact Tommy Williams, Dean of Administrative Services at Seward County Community College/Area Technical School, 620-417-1018 or tom.williams@sccc.edu or their individual tax advisor for more information.



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