BATON ROUGE, La. (BRPROUD) – Businesses can receive a dollar-for-dollar 100% refundable tax credit of up to $5,000 for donations to Child Care Resource and Referral Agencies.
Volunteers of America’s Partnerships in Child Care program is the resource and referral agency for the Greater Baton Rouge, Acadiana, and southwest Louisiana regions.
Even if a business doesn’t owe state taxes or its donation exceeds its tax bill, the state will reimburse them in the form of a refund.
All businesses with a Louisiana Tax ID number are eligible including any for-profit or nonprofit entity, sole proprietors, partnerships, limited liability corporations, and corporations.
The School Readiness Tax Credit (SRTC) is not available to individuals who make donations.
SRTCs are a package of refundable state tax credits designed to support and enhance the quality of early childhood education in the state. The SRTC became law R.S. 47:6107 during the 2007 regular session of the Louisiana Legislature. The tax credits became effective on January 1, 2008.
SRTC donations must be made by December 31st in order for businesses to use them when they file their 2022 taxes. For more information on the Tax Credit, you can visit https://getsmartla.org/.