Donations
Community Investment Tax Credits (CITC)
WBC Community Development Corporation has been awarded Community Investment Tax Credits (CITC) by Maryland’s Department of Housing and Community Development. Any individual or business that pays taxes to the state of Maryland can donate $500 or more to WBC CDC and earn tax credits equal to 50% of the value of their contribution to reduce their tax liability.
If you itemize, there may be additional benefits that increase the tax benefits of your give.*
The tax credits must be used against Maryland state taxes owned for the year in which the contribution was made and may not be used retroactively for taxes from a prior year. In some cases, a portion of the tax credits can be carried over to future years.
ELIGIBLE DONORS:
Individuals: A resident of Maryland (as defined by Maryland tax law)
Businesses: Any entity that conducts a trade or business in the State and is subject to: the State income tax on individuals or corporations: the public service company franchise tax or the insurance premiums tax (e.g. corporations, public utility companies, insurance companies, financial institutions, partnerships, sole proprietorships and limited liability companies).
ELIGIBLE CONTRIBUTIONS:
Cash contributions of $500 or more.
HOW TO CONTRIBUTE:
Make or pledge your donation today. WBC CDC will follow up with a simple waiver form.
Tax Credits are limited. Tax Credits will be distributed on a first-come, first-served basis.
QUESTIONS?
Contact Tracy Evans, President at info@wbccdc.org or (410) 578-9142