B and O tax credit Main Street, B&O tax credit, Dr. Julie Groves DDS, Harbor Gifts and Kayak Rental, Harbor Gifts and Kayak Rental Coupeville, Iverson Allstate Insurance, Iverson Insurance Oak Harbor, Main Street Trust Fund, Puget Sound Energy, Toby's, Toby's Tavern Coupeville, Whidbey SeaTac Shuttle
Another year of B&O tax credits will be provided to Toby’s, Iverson Allstate Insurance, Puget Sound Energy, Whidbey SeaTac Shuttle, Dr. Julie Groves DDS and Harbor Gifts and Kayak from the State of Washington through their donation to the Coupeville Historic Waterfront Association, a “Main Street” designated awardee.
Thanks also go to those businesses who attempted to make a donation and garner a tax credit but were locked out when the state met its cap for the incentive program at 6am on January 1st, 2017.
Contact us today for more on how you can get a tax credit AND support our historic mission 360-222-3696
The Washington State Department of Revenue “Main Street” tax credit incentive program provides a Business & Occupation (B&O) or Public Utility tax (PUT) credit for private contributions given to “Main Street” Coupeville Historic Waterfront Association.
Once your business’ donation request is approved by the Department of Revenue, you are eligible for a tax credit worth 75% of the contribution to your downtown revitalization organization. Businesses statewide CAN also donate to the Main Street Trust Fund. In this case, the tax credit is worth 50% of your donation. In fact, a business can donate to both up to $250,000. What other program essentially lets you self direct your business taxes? Further, if your downtown organization is a 501C3 you may be eligible for a federal income tax deduction as a charitable contribution.