State income tax credits available

The public can redirect their tax dollars and at the same time help Fort Scott Community College.

The 2007 legislature enacted House Bill 2237 to address the deferred maintenance needs of designated colleges and universities. The legislation provides for a new tax credit based on a specific percentage of a taxpayer's contribution made on or after July 1, 2008, to a community college for capital improvements. These credits are applicable to corporate and eligible individual income taxes, insurance premiums and bank privilege taxes.

A gift to Fort Scott Community College's Capital improvement program earns a 60 percent Kansas Tax Credit in addition to a federal income tax deduction, a news release said.

Qualifying gifts made to Fort Scott Community College can be in the form of cash, credit card, stocks and bonds or personal property. A $1,000 contribution to Fort Scott Community College would enable the contributor to receive a $600 credit on their Kansas Income Tax, in addition to the normal deductions for which you would qualify under state and federal law.

Payment may be made up to Dec. 31, 2011. FSCC Endowment Association will process all payments with the Kansas Department of Revenue (KDOR) and issue an official Kansas Tax Credit letter from KDOR plus a charitable contribution receipt from FSCC Endowment Association.

For more information on this program, contact Gary Palmer, director of development at Fort Scott Community College, 2108 S. Horton, 223-2700 ext. 5830, or garyp@fortscott.edu. Some of the tax credits have already been taken, so contact Palmer as soon as possible to reserve your credits.