2012 Tax Credits Are Here!
There’s never been a better time to donate! With New Mexico Affordable Housing Tax Credits, you can double your donation and receive 50% back from the state. The tax credits can be used with personal and corporate income tax, sales tax and other state tax debt.
We would like to give you the opportunity to utilize these state tax credits equal to 50% of your donation made available by New Mexico Taxation and Revenue for charitable contributions to non-profit organizations providing affordable housing in the state.
Here’s how it works…
If your total annual donation equals $2000
And you use your tax credits worth -1,000 (deducted directly from your NM tax debt)
Your actual out-of-pocket donation is just $1,000
When you make a minimum donation of $500 in a calendar year, you will receive a tax credit of 50% of your total donation that directly reduces your New Mexico income tax and/or gross receipts tax debt. You may also choose to carry-over the tax credits for up to 5 years or transfer them (one time only) to someone else. In addition to the New Mexico tax credits, you can claim the standard charitable deduction for your full contribution on your federal tax return.
Giving to Santa Fe Habitat for Humanity has never been more worthwhile!
If you would like to contribute this year and take advantage of the NM tax credits, please call us at 505-986-5880 and ask for Marilyn Perryman at ext. 14 or Keith Williams at ext. 16.