Contribute | Neighborhood Assistance Tax Credits

Individuals or businesses who contribute directly to an approved NAP organization may also receive a state tax credit equal to 45 percent of their contribution.

For individuals  only cash contributions are eligible. The minimum donation by an individual must be at least $500 for a $225 ($500 x .45) tax credit. The maximum tax credit per taxable year for individuals is $50,000. Individuals may claim the tax credit on their state income tax return only to the extent they have not claimed a deduction for the donated amount on their federal income tax return.

For a business contributions include cash, stock, goods, real estate, rent/lease of nonprofit's facility, and limited health care, professional, and contracting services. Tax credits are available if the contribution value is at least $889 or no more than $388,889. The minimum tax credit issued for a business contribution is $400 ($889 x .45). A contributing business may take a maximum of $175,000 ($388,889 x .45) in NAP credits for any tax year.

For more information click on this link: http://www.dss.virginia.gov/community/nap/index.html