Enterprise Zone Tax Credit

What is an Enterprise Zone (EZ) Tax Credit?

Colorado’s Enterprise Zone Program provides tax incentives to encourage job creation and capital investment in economically depressed areas of the state.  This program makes it possible for Habitat for Humanity of Metro Denver to offer its donors a Colorado state income tax credit on qualifying contributions which support our work within the Denver and/or South Metro Enterprise Zones.

Does my donation qualify for an EZ Tax Credit?

Cash and stock gifts made to Habitat for Humanity of Metro Denver may be eligible for the tax credit if:

  • Valued at $250 or more
  • Made by a State of Colorado taxpayer directly or via a third party with 501 (c) (3) tax exempt status
  • Received before Habitat reaches its yearly tax credit limit on qualifying contributions of $750,000
  • Unrestricted or designated to a Habitat construction development in Montbello, Globeville, Elyria-Swansea, College View or Sheridan.
  • The taxpayer did not receive any direct benefits in exchange for his/her contribution

What are the benefits of an EZ Tax Credit?

Donors who make a qualifying contribution to Habitat for Humanity of Metro Denver may claim an income tax credit of 25% on cash donations and 12.5% on stock gifts up to a maximum yearly credit of $100,000. 

Savings Example
DEZ tax table.jpg
Information provided by EKS&H Material. This should not be considered tax, legal or investment advice. (Please consult your personal tax advisor.)

How do I take advantage of an EZ Tax Credit?

1. Make a donation of $250 or more to Habitat for Humanity of Metro Denver by December 31.  Eligible donations will receive the tax credit on a first come, first served basis until Habitat’s annual contribution limit of $750,000 limit is reached.

Donate

 

2. Call Development Associate Rachel Bailey at 720-382-1721 with your FEIN, Colorado Taxpayer Account Number, or the last four digits of your SSN.  As of 2014, Habitat is required to report this information to the State of Colorado in order for your contribution to be certified.

3. Retain the DR 0075 Form you receive from Habitat and file it with your Colorado State Income Tax Return.

How can I learn more about the EZ Tax Credit?

Please contact Development Associate Rachel Bailey (rbailey@habitatmetrodenver.org or 720-382-1721), or visit www.colorado.gov/revenue/tax and search for “FYI Income 23”.