Community Contribution

Tax Credit Program

The Community Contribution Tax Credit Program (CCTC) provides a financial incentive (up to 50% tax credit) to encourage Florida businesses to make donations towards approved non-profit organizations in Florida.§ Operation New Hope is an approved eligible sponsor for the program. § The State of Florida allows businesses to receive up to 50% tax credit against corporate income tax, insurance premium tax, and refund against sales tax (for businesses or individuals registered to collect, and remit sales taxes with the Florida Department of Revenue).§ Operation Hew Hope will work closely with you to complete the paperwork required by the State to ensure that you submit on time to receive the maximum credit.

How does it work?
The tax credit is easy for a business to receive. Businesses located anywhere in Florida that make donations to approved community development projects may receive a tax credit up to 50% of the retail value of the donation.

Donations must be made to an eligible sponsor conducting an approved community development project. The annual amount of credit granted is limited to $200,000 per firm and $14,000,000 for the state. For each dollar donated, businesses may receive a 55.5-cent reduction in Florida tax liability (50 cents from the credit and 5.5 cents from the deductibility of the donation). The donation may also be deducted from Federal taxable income. A five year carry forward provision is available for an unused portion of the corporate income tax credit (sales tax refunds are available for up to 3 years after the first application).

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Give us a call at 904.354.4673 or fill out the form below and we'll be in touch regarding your donation..

Donation of Goods or Materials

Donations of good are filtered through the same lines of tax credits as cash contributions. The amount of the contribution is equal to the retail value of the donation. For example, a corporation may donate concrete with a retail value of ten thousand dollars ($10,000) for an Operation New Hope project. The contribution by the concrete company is treated as a ten thousand-dollar ($10,000) contribution, even if the cost to the corporation to produce the concrete is significantly lower. This allows corporations that want to contribute the opportunity of realizing important donations while having the ability to receive a tremendous tax credit that could cover much of the donation.

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