The Puyallup Main Street Association would like to thank the businesses who generously contributed B&O Tax dollars to our organization:

Cambell, Dille, Barnett, Smith & Wiley
Columbia Bank
Valley Bank

What is the Main Street Tax Credit Incentive Program?

The State of Washington’s Main Street Tax Credit Incentive Program allows your business to make donations directly to designated downtown revitalization programs such as the Puyallup Main Street Association.  Your business then receives a 75% credit on your B&O taxes through the Department of Revenue for the next calendar year.

If you make a contribution to PMSA before December 31, 2010:

Part of your contribution qualifies as a 501(c)(3) charitable deduction on your 2010 federal income tax return.

AND

75% of your donation is returned to you via B&O tax credits in 2011.

In 2010, $1.5 million in tax credits is available statewide. PMSA can receive up to $133,333 in contributions. Approvals are given each year on a first-come, first-served basis as of January 1.

PMSA is pleased to offer you this opportunity to invest a portion of your B&O tax dollars in our community and simultaneously benefit your business. We hope that you will consider this unique opportunity.

How do I participate?

1. Sign up to e-file with the Washington State Department of Revenue at www.dor.wa.gov.
2. From there, click on List Of Services, then Apply for Main Street Tax Credit, and Get Started.
3. Select Puyallup Main Street Association as the recipient and enter your contribution amount.
4. Write a check in the amount of your contribution to Puyallup Main Street Association. All checks must be received no later than December 31, 2010.

Examples:

If your check is in the following amount:	Puyallup Main Street Association receives:	B&O tax credit in 2011:	Your initial out of pocket expense:	Amount that may be claimed as a charitable deduction in 2010**:	**Amt. your deduction reduces your federal return:
$ 1,000	$ 1,000	$ 750	$ 250	$ 1000	$    **
$ 2,500	$ 2,500	$ 1875	$ 6255	$ 2,500	$    **
$10,000	$10,000	$ 7,500	$ 2,500	$ 10,000	$   **
$50,000	$50,000	$ 37,500	$ 12,500	$50,000	$    **

**Please discuss with your tax advisor - amounts vary from business to business.