Roundup River Ranch has been approved by the State of Colorado as a licensed child care organization which qualifies the camp to offer the Colorado Child Care Contribution Credit.  If you are a Colorado taxpayer, you may be eligible to receive a 50% state tax credit on your cash donation to Roundup River Ranch. This is in addition to your federal income tax deduction.

Tax Savings Example for $1,000 Gift

(Illustration uses 30% tax bracket)

* Federal tax deduction is lowered because of the add-back effect of reduced state tax.

Frequently Asked Questions :

- What is the Child Care Contribution Credit?

Any taxpayer who makes a monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total contribution.

- Do corporations qualify for this credit?

Any Colorado taxpayer qualifies for the credit; this includes corporations and businesses.

- Do in-kind donations qualify for the credit? What about stock donations?

The credit is available for monetary contributions only. Donations of property,  including gifts of stock or in-kind gifts, while appreciated by Roundup River Ranch, do not qualify for the credit.

- What kind of documentation do I need?

Roundup River Ranch will provide a DR 1317 form to the donor along with a donation receipt. Donors must provide this statement to the Department of Revenue upon request.

- Is there a minimum or maximum contribution amoung?

There is no minimum contribution amount. Roundup River Ranch will provide DR 1317s for contributions of $500 or more, or for any donation upon request. The maximum gift is $200,000. The credit cannot exceed the tax liability for the year. Any excess credits may be carried forward for up to five years.

- For how many years is this credit valid?

This credit is valid without restrictions through December 31, 2010. HB08-1049 extended the credit through December 31, 2019; however beginning in 2011 the credit is restricted to years in which the State of Colorado anticipates a surplus in its general fund. The Department of Revenue will specify on its website on or before January 1, 2011, and on or before each January 1 thereafter, whether the credit will be allowed for the upcoming tax year. If the credit cannot be claimed in the tax year in which it accrues because a surplus is not expected, the credit may be claimed in the tax year for which a revenue surplus is anticipated.

Where can I learn more about this program?

The State of Colorado has many resources available on the Department of Revenue website. View their For Your Information document here: FYI_Child Care Contribution Credit We encourage you to consult your financial advisor for more specific information regarding the tax advantages of making a gift.

Please Note: The above example is for illustration purposes only and may vary based upon your own personal tax situation. This information should not be considered tax advice. Please consult your financial advisor for more specific information regarding tax advantages of making a gift.