Tax credits available for CCCC building project

The Cloud County Community College Foundation has announced the availability of tax credits for the construction of the Technical Education & Innovation Center.
The tax credits, a dollar-for-dollar reduction of the income tax a taxpayer owes, are allowed for any taxpayer that contributes to a community college in Kansas for capital improvements, deferred maintenance or the purchase of technology and equipment. The credit is 60 percent of the total amount contributed during the taxable year by the taxpayer to a Kansas community college.
The state of Kansas has approved $5 million in Community and Technical Colleges Capital Improvement Tax Credits, to be split among community and technical colleges across the state, first come, first served, up to a maximum of $500,000 per school. Taxpayers can claim tax credits for donations up to $250,000.
For example, a taxpayer makes a $10,000 contribution to the Cloud County Technical Education & Innovation Center and receives a state tax credit in the amount of $6,000. The taxpayer may be eligible to deduct a maximum of $4,000 as a charitable donation on their federal return. The taxpayer would receive a $6,000 Kansas tax credit to be applied against their state tax liability.
“The Capital Improvement Tax Credit Program is an excellent way to support the Technical Education & Innovation Center project while offering our donors the opportunity to lower their Kansas state tax burden,”nHeather Gennette, executive director of the Cloud County Community College Foundation, said. “I urge anyone who is interested to contact me as soon as possible.”
The Technical Education & Innovation Center will house Cloud County's premier academic programs of renewable energy, nursing & allied health and agriculture. The new 33,725-square-foot center will be located between the college and Walmart, along College Drive. The project will begin in spring 2023, with construction expected to be completed in summer 2024.
Anyone with questions, or who wishes to donate, can contact Gennette at (785) 243-1435, ext. 235, or by email at hgennette@cloud.edu.  
More information can be found on the Foundation's webpage at www.cloud.edu/about/foundation.