KDP announces Main Street Tax Incentive Program

Businesses can apply for credit

  • Wednesday, February 5, 2020 4:50pm
  • Business

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.

In consideration of how we voice our opinions in the modern world, we’ve closed comments on our websites. We value the opinions of our readers and we encourage you to keep the conversation going.

Please feel free to 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.) We reserve the right to edit letters, but if you keep yours to 300 words or less, we won’t ask you to shorten it.

More in Business

With Mount Baker and Jetty Island in the distance, a container ship approaches the Port of Everett. (Port of Everett photo)
Senate Dems: $5 million to help businesses disrupted by coronavirus

Overseas port closures hurt WA companies that depend on international shipping.

Kent’s plastic bag ban begins March 1

Customers encouraged to bring reusable bags or must pay 8 cents per bag

Spicers Paper finds new Kent location

At Bridge Point Kent facility

Pets And You Reiki supports healthy body, spirit for people and pets

Offering a form of alternative medicine know as energy healing

UFCW 21 endorses Bernie Sanders; Medicare For All

‘Sanders has by far the most pro-worker labor agenda of any candidate’

Get a 19-cent burger on Jan. 30 at Dick’s in Kent

Price rolled back to celebrate 66th anniversary

Free income tax help at Highline College

United Way and Highline continue partnership

Report: Unemployment falls to new low in December

Washington’s economy gained 10,900 jobs in December and the state’s seasonally adjusted… Continue reading

Kent’s Oberto pays penalty for failing to timely report hazardous chemicals storage

U.S. EPA fines company that stores diesel, nitrogen, lead