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Contribute to Early Child Care and Education and get a tax break!
The Committee of 100 is promoting business investment in early childhood education.
As you know, C100 supports high-quality early childhood as a critical element of workforce development.
In Louisiana, businesses can invest in early childhood education through the state’s innovative and highly effective School Readiness Tax Credit Program.
There are two credits available:
1. Tax Credit for Business Supported Child Care. This credit is available to businesses that support quality child care based on the quality rating of the child care center. The credit is for a percentage of the eligible expenses based on the quality rating of the child care facility to which the expenses are related or the rating of the child care facility that the child attends. The refundable credit can be taken against individual income tax, corporation income tax, or corporation franchise tax depending upon the business structure.
2. Tax Credit for Business Donations to Child Care Resource and Referral Agencies. These are private agencies that contract with the Department of Social Services to provide information and services to parents and child care providers. The credit is equal to the amount donated to the agency but cannot exceed $5,000 per tax year. This refundable credit can be taken against individual income tax, corporation income tax, or corporation franchise tax depending upon the business structure.
If you are interested in making a contribution to Early Child Care in your region and get a state tax benefit, let us know! Staff members of the Resource and Referral Agency in your region are available to meet with you to provide more information about the tax credits and this tremendous opportunity to improve early care and education. When they call, please give them your time and direct them to the appropriate individuals within your organization.