Rural Business Development Tax Credit Program from the State of Kansas

Support rural business Development and save!

Save on your taxes and help grow jobs. The Kansas Economic Growth Act of 2004 creates significant opportunities for anyone seeking a tax break in Kansas.

Make a donation to a regional foundation set up under the Rural Business Development Tax Credit Program of $250 or more and receive a 50% tax credit on your Kansas income tax return. Your contribution will generate new capital investment that regions can then use to build on their long-term rural development and economic prosperity.

Create a significant leveraging effect with your charitable donations. Proceeds go to help preserve the character and improve the economic vitality of the smaller communities in Kansas. Invest in rural Kansas.

How will the funds be used?

• Business loan programs to rural businesses that was not ideal for traditional bank financing

• Business support services, such as free counseling and training to support and grow rural businesses

• Economic development assistance to counties

• Training to develop the leaders necessary to solidify the future of rural communities in East Central Kansas

How does it work?

• Assume you are in a 34% federal income tax bracket and you donate $50,000 to this program.

• First you get a $127000 tax savings from the federal government, and then you get a $250,000 tax credit from Kansas.

• Your true "cost" is only $8,000

• Rural communities see a $50,000 benefit

For more information:
Doug Reed
Community Development Division
Kansas Department of Commerce
Phone Number: (785) 296-3485
E-mail: dreed@kansascommerce.com

mail@LVCountyED.org