Counseling Center is now approved for the Neighborhood Assistance Act (NAA)

posted Wednesday, Jul 2, 2014

The Neighborhood Assistance Act (NAA) program encourages businesses and individuals who pay Delaware state income taxes to invest in programs serving impoverished neighborhoods or serving low- and moderate-income families.  In exchange for a qualified contribution, the NAA provides state tax credits equal to 50% of the investment.  Each year a maximum of $500,000 in tax credits is available statewide.  The maximum tax credit available to any taxpaper is $50,000.

Example:  A $50,000 contribution qualifies for $25,000 in Delaware Tax Credits.

Taxpayer Eligibility Requirements

1. The NAA Tax Credit is available to any individual or business paying income tax in Delaware and whose contribution is made to an approved NAA non-profit organization.
2. Contributor must meet the minimum contribution amounts   -  Business: $10,000       Individuals: $2,500  
3. Maximum contribution cannot exceed $100,000 per tax year.
4. Beginning with contributions made in 2013, the maximum amount of contributions by any taxpayer in a three year period is $200,000.

If you have any questions or need further assistance, please contact Cindy Deakyne at (302) 739-4263, email cindy@destatehousing.com, or call Delaware State Housing Authority's Public Information Office at (888) 363-8808.