Bayaud Enterprises qualifies for the CO Enterprise Zone Tax Credit program, which means you can get a larger than a typical donation reduction in your state taxes with a contribution to use.
The purpose of the Enterprise Zone Contribution Tax Credit Program is to support businesses and non-profit organizations, such as Bayaud Enterprises, located in economically distressed areas throughout the State of Colorado. The Enterprise Zone tax credit allows a dollar for dollar reduction in state taxes owed by an amount equal to 25% of cash donations to Bayaud Enterprises of $250 or more.
- A minimum cash donation of $250 is required to participate.
- To qualify for Enterprise Zone credit, you must provide one of the following to Bayaud Enterprises (We keep these numbers secure and private to your account.):
- Federal Employer Tax Identification Number (FEIN)
- Your Colorado Taxpayer Identification Number
- Or the last four digits of your Social Security Number
- Once we receive your gift, we will send you a receipt. Within 30 days, if we have an active email address on file for you, the state of Colorado will send you an emailed copy of your Certification of Qualified Enterprise Zone Contribution to support your claim for tax credit.
- You must file your tax return electronically with the Colorado Department of Revenue.
- Gift-In-Kind donations of stocks, bonds or mutual funds are eligible for Enterprise Zone tax credit at a rate of 12.5%.
- More details can be found at the Colorado Department of Revenue website.