El Paso County, Colorado

Enterprise Zone Contributions Credit

To encourage Colorado taxpayers to make contributions to non-profits that make improvements to the El Paso County Enterprise Zone, a STATE INCOME TAX CREDIT equal to 25% of monetary contributions is available. In addition, if the donation and recipient are eligible under federal rules, the federal charitable contribution deduction can be taken. No credits are allowed for contributions that directly benefit the contributor. The goal of Enterprise Zone projects is to create or preserve an environment that will help attract, expand or retain employers in the Enterprise Zone. The following categories of projects are eligible:

The Colorado Economic Development Commission and the El Paso County Enterprise Zone Administrator have approved a variety of projects that assist in "implementing the economic development plan" of the Enterprise Zone. Approved projects are listed below. In order to claim the credit, checks must be payable to the El Paso County Enterprise Zone with the project for which the contribution is made in the memo line. Checks can be mailed to the individual projects or directly to the Enterprise Zone at 27 E. Vermijo, 5th Floor, Colorado Springs, CO 80903. A "Certification of Qualified Enterprise Zone Contribution" will be returned to the contributor to attach to the Colorado Income Tax form. Both businesses and individuals can take the credit.

In-kind donations are also eligible for the credit; the credit is 12.5%. Stock contributions are considered in-kind and must be transferred to the Enterprise Zone. To determine if in-kind contributions will be accepted, please check with the project and the Zone Administrator.

Eligible Projects