New Tax Credit Program benefits Kansas Taxpayers
The Kansas Department of Revenue & Kansas Legislature has established the Community College & Technical College Contribution Tax Credit Program. The program will run from July 2022 through 2026. The credit shall equal 60% of the total amount contributed during a taxable year for contributions made to a designated community college or technical college located in Kansas. Tax credits per taxpayer shall not exceed $250,000 per tax year.
The tax credits are limited, and on a first-come-first-served basis, and the statewide pool is limited. Thus, the earlier you provide a gift to the program the better.
Consult your tax professional. Learn how this program could benefit you as an individual or an organization.