The Tax Credit Program brings together worthy nonprofit projects and conscientious businesses to foster community development. Put another way, it lets businesses vote with their dollars about which programs mean the most to them and their communities.
Also known as the Community Development Investment Program (CDIP), CDFA gives a 75% state tax credit against a donation made to any approved project.
- The tax credit may be applied against the New Hampshire business profits tax, business enterprise tax, and/or the insurance premium tax. The donation also may be eligible for treatment as a state and federal charitable contribution.
- CDFA is restricted to providing support to nonprofit community development organizations, cooperatives, and some municipal entities.
- Legislation permits CDFA to accept donations of up to $5 million in each state fiscal year in exchange for $3.75 million in state tax credits for CDFA approved community development projects.