Tax Credit Program
The Stevenson Downtown Association is pleased to announce it’s eligibility to receive contributions from businesses through the Washington State Main Street Tax Credit Program.
The Stevenson Downtown Association, a 501(C)(3) nonprofit, will use these contributions to fund existing events, enhance the business environment and economic vitality of the downtown area, and transform the Skamania County Courthouse lawn into a gathering place that is unparalleled in the Columbia Gorge.
If you own a retail or service business anywhere in Washington State, you can divert your B&O tax to the local efforts of the SDA; When business is strong in the summer you can donate some of the profit to the SDA-this creates a tax credit for 75% of the value of your donation that will diminish your B&O tax liability in the following tax year. So you can make a donation when profits are strong, and receive a tax credit when it’s most beneficial to your company.
However, you must apply to take this credit by April 1st. You do not need to actually make the donation to the SDA until November 15th, or your earliest convenience.
The amount of the tax credit you are eligible for will depend on the amount of taxes you pay, but generally, if you are a retail business with gross revenues above $90,000 or a service business with gross revenues above $60,000, a contribution to the SDA will likely benefit you and our community.