Make the most out of Colorado Child Care Tax Contribution Credit
Taxpayers who make a qualifying monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total qualifying contribution.
The Colorado Child Care Tax Contribution Credit (CCCTC) was established to encourage greater private support of Colorado child care programs, like those provided by Third Way Center. Third Way Center supporters who make a qualifying monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total qualifying contribution.
For example, after State and Federal tax savings, the net cost of your $1,000 contribution to Third Way Center is $327.
Lower State income taxes mean lower State tax deductions for Federal tax purposes. The example above does not apply to everyone. Please consult your tax adviser for information specific to your personal tax situation. The CCCTC can only reduce tax liability and is not a refund.
