Colorado Child Care Contribution Tax Credit
When you make a donation to 蘑菇传媒, the State of Colorado allows you to take a 50% tax credit on your state income taxes through the Colorado Child Care Contribution Tax Credit. This is in addition to regular state and federal deductions for charitable giving. You may be eligible for the tax benefit whether you itemize or take the standard deduction.
* For illustrative purposes only, based on a 24% federal marginal tax rate. Actual tax savings may vary. The federal income tax deduction applies to individuals who itemize deductions on their federal return. Those who claim the standard deduction will not receive this federal tax benefit. However, such individuals may still qualify for the 50% tax credit against Colorado state income tax. Always consult a qualified tax professional to understand how these rules apply to your specific situation.
Eligibility Rules
- A minimum cash contribution of $250
- Donations cannot exceed $100,000 per taxpayer per year
- Donations cannot exceed the tax liability per year
- The credit has been renewed through 2026; availability is subject to legislative action
- Stock transfers and in-kind donations are not eligible
Consult Your Tax Accountant
Please always consult your accountant or tax attorney to solidify your gift and confirm the effects of this credit on your individual finances. More information can be found on the Department of Revenue website. Upon making a qualified gift, the Development Office will issue to file with your taxes.
Please contact the Development Office at giving@css.org or by phone at (719) 434-3501 to guide any giving conversations or next steps. 蘑菇传媒 is a 501c3 non-profit. Tax ID#: 84-0517369.
