Colorado Childcare Contribution Credit

Supporters of Special Kids Special Families who reside in Colorado and file Colorado state taxes may qualify for a 50% state income tax credit in addition to the regular state and federal income tax deductions. The Colorado Child Care Tax Credit (CCTC) promotes childcare activities statewide, and Colorado Department of Revenue approved contributions for our Zach’s Place program beginning in 2004.

For more information about Special Kids Special Families and our Zach’s Place child care program, please contact Linda Ellegard, SKSF Executive Director at 719-447-8983 x19 or Renae Isakson, Zach’s Place Program Director at 719-329-1717.

The Tax Credit

Both corporate and individual donors may benefit.  Any taxpayer that makes a cash contribution to Special Kids Special Families designated to Zach’s Place may claim an income tax credit of 50% of the total contribution. Please click here for the most up-to-date information from the Colorado Department of Revenue.

Guidelines

Donors may not receive any goods or services in return for their contribution.

• No in-kind or stock contributions qualify for the credit.

• Contributions may be made through December 31, 2019.

• The credit shall not exceed $100,000 per year.

• The credit allowed shall not exceed the tax liability for the year.  Any excess credits may be carried forward for up to five years.

• Donors should contact their tax advisors for advice about how the credit affects their tax picture.  Information on this website is not tax advice.

• Indicate “CCTC for SKSF Zach’s Place” in the memo line of your check. Your restriction must be indicated at the time you make your gift.

 

Our agency will provide donors with Form DR 1317, certifying the child care contribution.  This form must be attached to a paper income tax return that claims the child care contribution credit, or supplied to the Department of Revenue upon request if the income tax return is filed electronically.

To make an online donation now and designate your gift to the Colorado Child Care Contribution Credit, click here.  Be sure and select “Child Care Contribution Credit” from the drop-down menu under “Designation.”

  

Here is an example of the after tax cost of giving:

CLIP_TaxContribution_Example_Table

 

NOTE: Because of the difficult economic times, certain conditions must be met each year to take advantage of the credit.  Please check with your tax advisor for the most current information.