Community Investment Tax Credits (CITC)

The Women’s Housing Coalition (WHC) has received Community Investment Tax Credits. Any individual or business that pays taxes to the state of Maryland can donate $500 or more to WHC and earn tax credits equal to 50% of the value of the money, goods or real property contribution to reduce their tax liability.

The tax credits must be used against Maryland state taxes owed for the year in which the contribution was made and may not be used retroactively for taxes from a prior year. These tax credits are in addition to the deductions on State taxes as a result of the charitable contribution. 

For example, you donate $2,000 to the Women’s Housing Coalition. From that donation, $1,000 is credited from your Maryland state taxes. Plus, you also get federal and state deductions for the charitable contribution. The numbers may look like this*:

  •  $2,000 - your donation
  •  $1,000 - Maryland CITC tax credit
  •  $140 - Maryland charitable deduction
  •  $780 - Federal deduction

*         Assuming itemization with 7% state and 39% federal, which will vary depending on individual circumstances. 

ELIGIBLE DONORS:
Individuals: A resident of Maryland (as defined by Maryland tax law).
Businesses: Any entity that conducts a trade or business in the State and is subject to: the State income tax on individuals or corporations; the public service company franchise tax or the insurance premiums tax (i.e. corporations, public utility companies, insurance companies, financial institutions, partnerships, sole proprietorships and limited liability corporations).

ELIGIBLE CONTRIBUTIONS:
Money, goods or real property worth $500 or more.

HOW TO CONTRIBUTE:
Make or pledge your donation today. WHC will follow-up with a simple waiver form. Contact Sarah Long at SLong@womenshousing.org or at 410-235-5782 x105.

FIND OUT MORE:
www.givemaryland.org

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