KDP announces Main Street Tax Incentive Program

Businesses can apply for credit

  • Wednesday, February 5, 2020 4:50pm
  • Business
KDP announces Main Street Tax Incentive Program

The Kent Downtown Partnership announces the Main Street Tax Incentive Program, which provides a Business & Occupation (B&O) or Public Utility Tax (PUT) credit for contributions given to eligible organizations.

The Kent Downtown Partnership is a Washington Main Street Community eligible to receive contributions through this program. Its mission is to create and promote economic vitality in historic downtown Kent. The Main Street Tax Credit is a way of ensuring your tax dollars stay in your community.

Any business, within or outside of Kent, which pays B&O or PUT is eligible for this program. Businesses can receive a tax credit worth 75% of the contribution on their tax liability the following year the contribution is made.

Interested parties must register the contribution on their Washington State Department of Revenue account and select the Kent Downtown Partnership to receive the contribution. Approvals are given on a first-come, first-served basis. Due the popularity of this program, it is important that you register with the Dept of Revenue (dor.wa) as soon as possible. The Kent Downtown Partnership can provide detailed information on the registration process.

Contributions must be registered by March 3, and payments made no later than Nov. 15 to qualify for the credit. The Kent Downtown Partnership offers flexibility to businesses with payment arrangements that work best with the businesses budget (payment upfront, quarterly, or by due date).

If you would like to keep your tax dollars in Kent, consider making a contribute to this program. Please direct inquires to KDP Executive Director Gaila Gutierrez at ggutierrez@kentdowntown.org or 253-813-6976.

Talk to us

Please share your story tips by emailing editor@kentreporter.com.

To share your opinion for publication, submit a letter through our website https://www.kentreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

More in Business

Nana’s Southern Kitchen opens Covington location

Restaurant started in Kent in 2019

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
Is cryptocurrency really an investment? | Guest column

Undoubtedly you have heard about the new form of money known as… Continue reading

Courtesy of Taco Time NW
Taco Time Northwest tries raising wages to $20 hours

Local fast-food chain will pilot the new wage increase at three King County locations.

Katsu Burger’s Tokyo Classic with Nori Fries. Cameron Sheppard/Sound Publishing
Katsu Burger opens new Kent location

The restaurant offers breaded hamburgers inspired by traditional Japanese comfort food.

Starting wages at Dick’s Drive-In to be $19 per hour

Restaurant seeks more hires to fill out shifts

Kent business owner takes over as Impact Washington board chairman

Craig Hanela, president of Buyken Metal Products, replaces Joe Heim

Stock photo
Grocery store workers have right to wear Black Lives Matter buttons

National Labor Relations Board ruling against ban by Kroger-owned QFC, Fred Meyer

Courtesy Photo, Westfield Southcenter
Westfield Southcenter to hold job fair Sept. 25 in Tukwila

More than 20 businesses looking for employees

Lewis Rudd, co-founder of Ezell’s Famous Chicken. COURTESY PHOTO, Ezell’s
Ezell’s to offer grants to Black-owned businessses in the northwest

DoorDash contributes $40,000 as part of partnership

Stock photo
Justice Department seeks to shut down Kent tax return preparer

Allegedly filed federal income tax returns that underreport tax due

Papa John’s will host job recruiting events next week at its Kent location and 17 other locations around the Seattle area. COURTESY PHOTO, Papa John’s
Papa John’s plans hiring event in Kent as labor shortage continues

Hiring, retention bonuses part of deal as company seeks employees