Enterprise Zone

STRETCH YOUR CHARITABLE DOLLARS!

The Colorado Urban and Rural Enterprise Zone Act provides for a State of Colorado Income Tax Credit of 25% of the donation amount for contributions of $250 or more.  Gifts of stock are allowed a 12.5% tax credit.  If the donor meets federal tax regulations, the donation may also qualify for a federal tax deduction.

Example:

Your Federal Tax Bracket10%15%25%28%33%35%
Your Gift$1,000$1,000$1,000$1,000$1,000$1,000
Your Federal Tax Savings$   100$   150$   250$   280$   330$   350
Your Colorado Tax Savings (4.7%)$     47$    47$    47$    47$    47$    47
Colorado Enterprise Zone Tax Credit$   250$   250$   250$   250$   250$   250
Your Total Tax Savings$   397$   447$   547$   577$   627$   647
Your Net Cost of Gift$   603$   553$   453$   423$   373$   353

 

To make an eligible cash contribution:

  • Make your check payable to El Paso County Enterprise Zone in the amount of $250 or more.
  • On the memo line write Mt. Carmel Veterans Service Center and the last 4 digits of your Social Security number, or if a business the EIN.
  • Complete and follow the instructions outlined on the attached form.

For questions about the El Paso County Enterprise Tax Zone tax credit, please contact Angela Ann Cesario at  or 719-575-7057.

Learn more about the El Paso County Enterprise Tax Zone.