The Main Street Tax Credit Incentive Program provides a Business & Occupation (B&O) or Public Utility Tax (PUT) credit for private contributions given to eligible downtown organizations such as the Bainbridge Island Downtown Association. Once your business’s donation request is approved by the Department of Revenue, you are eligible for a tax credit worth 75% of the contribution to BIDA. If your downtown organization is a 501(c)(3) you may be eligible for a federal income tax deduction as a charitable contribution.
Donation requests are easy to submit online, and the donation can be spread throughout the calendar year. Please contact us for more details; we would be happy to set up an appointment to discuss the ways in which the B&O/PUT tax incentive program can benefit both your business and our community!
More information can be found here.