Tax credits extended
Monday, September 13, 2010
Posted by: Andrea Yoxall
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
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
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 email@example.com or their
individual tax advisor for more information.