Donations of $250 or more may qualify for a 50% tax credit in Colorado

When a donation is made to Colorado CASA, the Child Care Contribution Credit for the state of Colorado may allow a donor to claim a tax credit equal to 50% of the total donation. This unique Colorado state tax credit can provide a sizeable tax benefit to donors who financially support charities focused on the care and development of children in Colorado.

It is important to know that the benefits of the Child Care Contribution Credit does not replace the tax benefits already put in place at the state and federal levels. This means that as a donor, you may still claim the federal charitable deduction and the state charitable deduction, the Child Care Contribution Credit reducing any remaining state tax on a dollar-for-dollar basis. You may be entitled to other deductions based on your tax situation.

The Child Care Contribution Credit may be claimed by individual donors, by partnerships and corporations, and by estates and trusts. Limitations apply, the credit is capped at $100,000 per year. Please contact your tax advisor for more information on this credit.

To learn more, visit the Colorado Department of Revenue Income 35.