Main Street Tax Credit Incentive Program
Keep your State B&O Tax or Public Utility Taxes in Walla Walla!
Did you know that your Washington State Business and Occupation or Public Utility taxes can stay in our community?
The Main Street Tax Credit Incentive Program (MSTCIP) provides a Business & Occupation (B&O) or Public Utility tax (PUT) credit for private contributions given to eligible downtown organizations, like the Downtown Walla Walla Foundation.
Once the Department of Revenue approves your business donation request, you are eligible for a tax credit worth 75% of the contribution to your downtown revitalization organization.
Designated Washington Main Street Communities, such as the Downtown Walla Walla Foundation, can receive contributions through this state tax credit program. Further, because our downtown organization is a 501(c)3 non-profit, you may be eligible for a federal income tax deduction as a charitable contribution.
How It Works
To contribute to the Downtown Walla Walla Foundation, please follow these steps before November 15, 2024:
2.
Click on “Doing Business,” then “My Account,” and select “Apply for Main Street Tax Credit.”
3.
Choose the Downtown Walla Walla Foundation as the recipient and enter your desired contribution amount.
4.
Write a check in the amount of your contribution to Downtown Walla Walla Foundation. All checks must be received no later than November 15, 2024.
Credit Amounts
CONTRIBUTION
CREDIT, DONATION, BENEFIT
$1,000
$750 Tax Credit
$250 Out-of-Pocket Donation*
$1,000 Supporting Downtown Revitalization
$2,500
$1,875 Tax Credit
$625 Out-of-Pocket Donation*
$2,500 Supporting Downtown Revitalization
$5000
$3,750 Tax Credit
$1,250 Out-of-Pocket Donation*
$5,000 Supporting Downtown Revitalization
$7,500
$5,625 Tax Credit
$1,875 Out-of-Pocket Donation*
$7,500 Supporting Downtown Revitalization
$10,000
$7,500 Tax Credit
$2,500 Out-of-Pocket Donation*
$10,000 Supporting Downtown Revitalization
*Dontaion is eligible for a federal income tax deduction as a charitable contribution to DWWF, a 503(c)3 non-profit organization.
Program Overview
Eligible Washington Main Street community organizations — like the Downtown Walla Walla Foundation — can receive contributions through the Main Street Tax Credit Incentive Program.
Businesses earn a state B&O tax credit of 75% of their contributed amount, effectively redirecting these taxes to local economic revitalization.
To participate, businesses must be registered to file their state excise tax electronically.
A pledge to contribute must be submitted online through the Department of Revenue website, selecting the Downtown Walla Walla Foundation as the credited community.
The pledged contribution can be spread throughout the calendar year, but the Downtown Walla Walla Foundation must receive the total by November 15, 2024.
Participating businesses must claim the tax credit in the following year; it cannot be carried forward.
A business may apply for up to $250,000 in credits each year.