We will be applying again this year and will let you know by the 1st of September of 2023 if credits are available.
THANK YOU FOR YOUR SUPPORT OF FAITH IN ACTION!!!
Contributions can be in the form of cash, personal property, real estate, stock and in-kind professional services. The minimum eligible donation is $500, the donor receives up to 50% of the donation in tax credit, allowing the donor or corporation to reduce their West Virginia tax liability no more than 50%.
There are three primary limitations on the use of the tax credits:
* The amount of credit allowable must be taken within a five-year period, beginning with the tax year in which the donation is made.
* A donor may receive no more than $100,000 annually in NIP tax credits.
* A donor cannot use NIP tax credit to reduce total state tax liability by more than 50 percent annually.