Entrepreneurship Tax Credits available in Douglas County

Entrepreneurship Tax Credits available in Douglas County

NetWork Kansas was created as a key component of the Kansas Economic Growth Act of 2004 to lead collaborative efforts between education, research and outreach services-as well as public sector organizations-in order to serve potential and existing entrepreneurs statewide.  An integral part of this effort is providing seed capital to entrepreneurs and small business owners in rural and distressed areas of Kansas.  The Kansas Center for Entrepreneurship Tax Credit was created to stimulate this effort.

The money donated to the Kansas Center for Entrepreneurship will provide funding for entrepreneurship programs and matching loans through local or regional non-profit business support providers who are also NetWork Kansas resource partners.

Donors receive a 75% state income tax credit for their donation.  A tax credit is a dollar-for-dollar credit against state income tax liability.  This means that for every $1,000 donated, donors will receive $750 credit off their state income tax liability.

Donors are also eligible to receive a federal and state tax deduction and should consult with their individual tax specialist to determine the amount of any deductions.

Those eligible to donate are individuals, financial institutions (banks and savings and loans) and corporations can donate to the Kansas Center for Entrepreneurship.

Please consider attending an informational event Dave and Mid-America Bank are hosting Thursday, December 12th at 5:00 pm at the MAB Annex at 814 Ames Street in Baldwin. This will be short event (over by 5:45) with a focus on educating and informing possible investors/donors to support startup businesses right here in our county, most specifically Lecompton, Eudora and Baldwin City. Please consider attending if you are interested or encourage those you know that are interested to attend, or reach out to Dave at dhill@mab.com.