Colorado-specific Tax Credits

 

Child Care Contribution Credit – Business and individual taxpayers that make a monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total contribution. In-kind contributions of property (non-monetary donations) do not qualify for the credit.

 

CO Child Care Contribution Credit

 

Contributions to promote child care in Colorado qualify for this credit. Child care means care provided to a child twelve years of age or younger. Applicable contributions include:

 

    • Donating money for the establishment or operation of a child care facility or program in Colorado. This is limited to:
        • A licensed child care center,
        • A licensed child placement agency,
        • A licensed family child care home,
        • A licensed foster care home,
        • A licensed homeless youth shelter,
        • A licensed residential child care facility,
        • A licensed secure residential treatment center,
        • A registered child care program that provides services similar to a licensed child care center.

 

    • Donating money for a registered grant or loan program for parents in Colorado requiring financial assistance for child care;

 

    • Donating money for a registered training program for child care providers in Colorado;

 

    • Donating money for a registered information dissemination program that assists parents with child care information and referral services.

 

    • Donating money for a registered grandfathered child care organization. (Grandfathered organizations may also accept qualified donations for the care of children ages 13-18.)