GH4_edited.jpg

THANK YOU TO OUR 2021 B&O TAX CREDIT DONORS!

Best Western Wesley Inn

Columbia State Bank

Gig Harbor Automotive Services, LLC

Heritage Bank

Heritage Distilling Company, Inc.

Kitsap Bank

Millville Pizza Co.

Puget Sound Energy

Ship to Shore Marine and Kayak

Summit Financial

Tides Tavern

Timberland Bank

Vici - Gig Harbor Group, Inc.

Vici Aviation, LLC

Vici Metronics, Inc.

Willis Marketing

Main Street B&O Tax Credit Incentive Program 

SELF-DIRECT YOUR TAXES STRAIGHT BACK INTO GIG HARBOR!
GOOD FOR YOU, GOOD FOR THE ALLIANCE, 
AND GOOD FOR YOUR COMMUNITY!

The Main Street Tax Credit Incentive Program provides a Business & Occupation (B&O) tax credit for private contributions given to your local Main Street® organization, the Downtown Waterfront Alliance. Once your business donation request is approved by the Department of Revenue, you are eligible for a tax credit worth 75% of the contribution you have made to the Alliance on your B&O tax liability the following year. Some Alliance projects made possible through our B&O tax credit support include:

 

  • The Summer Trolley

  • Waterfront Walking Tours

  • Merchant Workshops

  • Summer Flower Baskets                                       

  • Waterfront Farmers Market

  • New Light Pole Banners

  • Downtown Waterfront  Promotional Events

 

Basic Facts About the B&O Tax Credit Program:

  • Eligible Main Street© organizations can receive first quarter donations totaling up to $185,185.18.

  • Businesses must be registered to file their state B&O tax electronically.

  • A request for credit must be filled out and submitted online at www.dor.wa.gov

  • The donation payment can be spread out throughout the calendar year, but pledge early to guarantee the donation is eligible.

  • Make your payment to The Alliance by Tuesday, November 15, 2022.

  • The business must take the tax credit the following year the donation is made - the tax credit cannot be carried forward.

More information about the program, as well as a FAQ can be found at https://preservewa.org/taxcredit

and https://preservewa.org/wp-content/uploads/2021/07/MSTCIP-FAQ-2021.pdf.

 

Example:

This Year You donate:  $1,000 to the Alliance

Next Year You Receive $750 credit toward your B&O Tax liability​

Register Now

Step 1: 

Visit the WA Department of Revenue website and follow these step-by-step instructions to make a pledge:​​

  • Beginning January 10,  2022, go to: https://secure.dor.wa.gov/home 

  • Log in to your account

  • Click on “Get Started” link

  • Click on your Excise Tax account 

  • Click “Credits” in the toolbar 

  • Click on “Add Main Street Application”

  • Find Gig Harbor Downtown Waterfront Alliance and enter your Contribution Amount;

  • Click next

  • Fill out Authorization Information and click Submit.

Click here for a screenshot of the step by step instructions.

Step 2:

Make your payment to The Alliance by Tuesday, November 15, 2022.

  • Mail your check to:

       The Downtown Waterfront Alliance, P.O. Box 771, Gig Harbor, WA 98335

Step 3: 

In January 2023, when you go to pay your B&O online, you will have the credit available in your account.

It’s really that simple!

Thank you so much for supporting the Downtown Waterfront Alliance and your community!

Register as early in 1st Quarter 2022 as possible – first day to apply is the second Monday in January (January 10, 2022 at 8:00am).  Additional credits may be available on April 1, 2022 at 8:00am.

SEPTEMBER 2021 UPDATE:

Important changes were made to the tax credit program during the 2021 legislative session.

 

The State Cap was raised from $2.5 million to $5 million, which increases the number of credits each Main Street organization is eligible to receive. More importantly, these additional funds are going to become available on 10/1/2021.

If you were unable to register, or needed to register more, you can do so the morning of October 1. Payment for these new donations is due to the Alliance no later than November 15. Then the process starts all over again the 2nd Monday of January 2022.

 

You will receive your credits toward your B&O tax liability for payments made in 2022 in 2023.