Give Maryland and The Community Investment Tax Credit provides an opportunity for individuals and businesses to reduce their Maryland tax liability, help a local nonprofit organization achieve an essential community goal, and make a targeted impact on their community. Please see www.givemaryland.org for more information on the amount of tax credits still available at Habitat for Humanity of Wicomico County.
As part of an annual competitive application process, Maryland-based 501(c)(3) organizations apply to the Maryland Department of Housing and Community Development for the much-coveted tax credit allocations.
Habitat for Humanity of Wicomico County received $50,000 in tax credits to serve our Aging in Place programs for the 2020 FY.
Individuals and businesses that donate to an organization’s approved projects earn Maryland tax credits equal to 50% of the value of their qualifying contribution. These credits are in addition to the deductions on both Federal and State taxes for the charitable contribution. Individuals and businesses must use the tax credits against Maryland taxes owed for the year in which the contribution is made. Individuals and businesses contemplating a donation are encouraged to consult with their tax professional for information about their specific tax benefits, based on their situation.