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Tax Credits

THE KANSAS DEPARTMENT OF COMMERCE HAS AWARDED $4.13 MILLION IN COMMUNITY SERVICE TAX CREDITS TO 27 NONPROFIT ORGANIZATIONS AROUND THE STATE. THESE FUTURE KANSAS INCOME TAX CREDITS ARE A MAJOR FUNDRAISING TOOL FOR COMMUNITY ORGANIZATIONS ENGAGED IN SERVICES FOR CHILDREN AND FAMILIES, HEALTH CARE OR CRIME PREVENTION. BUSINESSES AND INDIVIDUALS WHO CONTRIBUTE TO THE AWARDED ORGANIZATIONS ARE ELIGIBLE FOR A 70 PERCENT TAX CREDIT IN RURAL AREAS OR A 50 PERCENT TAX CREDIT IN URBAN AREAS. THE COMMUNITY SERVICE TAX CREDIT PROGRAM IS A WAY FOR CHARITABLE ORGANIZATIONS AND PUBLIC HEALTH CARE ENTITIES TO IMPROVE THEIR ABILITY TO UNDERTAKE MAJOR CAPITAL FUND-RAISING DRIVES FOR PROJECTS INVOLVING CHILDREN AND FAMILY SERVICES, NON-GOVERNMENTAL CRIME PREVENTION AND HEALTH CARE. EACH YEAR, NON-PROFIT COMMUNITY SERVICE ORGANIZATIONS SUBMIT PROPOSALS TO THE DEPARTMENT. IF THE ORGANIZATION IS AWARDED TAX CREDITS, IT IS THEN AUTHORIZED TO OFFER TAX CREDITS TO DONORS MAKING CONTRIBUTIONS TO THE APPROVED FUND-RAISING PROJECT. TAX CREDITS TOTALING $4.13 MILLION ARE ALLOCATED TO THESE GROUPS ANNUALLY AT A RATE OF 70 PERCENT IN RURAL AREAS AND 50 PERCENT IN NON-RURAL AREAS. NORTON THEATRE ASSOCIATION WILL RECEIVE 190 THOUSAND DOLLARS IN TAX CREDITS TO COMPLETE SEVERAL IMPROVEMENTS TO THE HEAVILY USED NON-PROFIT FACILITY, INCLUDING UPGRADING THE EQUIPMENT FOR DIGITAL FORMATS AS PRODUCTION OF PRINTS IS EXPECTED TO CEASE.