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ln January of 2008, Louisiana began its refundable state tax credit designed to support quality child care. This credit provides businesses with a dollar for dollar credit up to $5,000 for donations to Child Care Resource and Referral (CCR&R) Agencies that are contracted by the Department of Education. On Track by 5 Alliance is such an agency.
This credit is part of a package of refundable state tax credits called the School Readiness Tax Credit (SRTC). All businesses are eligible. A business is defined as any for-profit or not-for-profit entity and includes sole proprietors, partnerships, limited liability corporations and corporations. However, it does not include any individuals operating in a personal capacity.
There are several School Readiness Tax Credits under the statute. This letter provides details regarding the refundable tax credit available to businesses that provide donations to Child Care Resource and Referral (CCR&R) Agencies, These are private agencies that contract with the Department of Education to provide important information and guidance to parents and child care providers and serve to help building quality child care. On Track by 5 Alliance has been awarded a contract to be a Child Care Resource and Referral Agency.
Please be aware that this is a Louisiana state tax credit, not a deduction. A tax credit reduces the taxes paid, dollar-for-dollar, in contrast to a tax deduction that only lowers table income. Furthermore, it is a refundable tax credit so that if the credit exceeds the business' tax burden, then the business can receive a check for the difference.
For more information about the tax credits, go to https://revenue.louisiana.gov/individualincometax/schoolreadinesstaxcredit
Click here to download the LDOE School Readiness Tax Credit Letter
Join these businesses that have already made contributions:
TECHNEAUX | Allen & Gooch | J.Neil Morein | Pugh Family Foundation | Acadiana Computer Systems, Inc. | Home Furniture Company | J.L. Sonnier, CPA | Giles Automotive | Associated Travel | Dr. W.Duay, Jr., DDS | M & E Consulting Inc. | Gene Fortier-State Farm Insurance | James L. Pate- NeunerPate | Frank X. Neuner, Jr.- NeunerPate | Doug Ashy | Robin LeBlanc, CPA | Travel Machine | Lafayette General Health | Ochsner Lafayette General Medical Centers | University Hospital & Clinics | Lafayette Health Ventures Inc. | Ochsner Abrom Kaplan Memorial Hospital | Magnolia Wealth Strategies | Vermilion Architects | Mack Energy Co. | Associated Design Group, INC. | Bernhard Mechanical Contractors, LLC | Ben L. Mayeaux-NeunerPate | James D. Hollier- NeunerPate | Robert Eddy Jr.- The Pinnacle Group | Ash Industries | Noble Plastics | Dave Romagosa, CFP | Educational BENEFITS- Skip Kovach | The Lemoine Company |Community Honda of Lafayette | Broussard & Associates | Trahan Construction | Educational BENEFITS- Kelly Cox | William C. Schumacher Family Foundation | Postlethwaite & Netterville |Home Bank | COX Communications | Ochsner St. Martin Hospital | Fenstermaker | Faux Finis LLC | Ziler Architects | J.B. Mouton | LiveOak Wealth Advisors | ACSW Architects |Grace Hebert Curtis Architects |Dr. Allen D Acomb III | Bradley Beck State Farm Agency | Unitech Training Academy | School Mint | Grizzly Roofing
Partner with On Track by 5 to help more at -risk children enter kindergarten ready. On Track by 5 provides quality cutting edge professional development to transition
“day care centers” into early learning centers of “Excellence.”
Turn your tax liability into an investment to ensure children have a strong foundation for future success in school and life.
Direct up to $5000 to On Track by 5 Alliance and your business will receive a dollar-for -dollar refundable credit on Louisiana State Taxes . This is made possible through the Louisiana School Readiness Tax Credit.
You have the power to decide where your tax dollars go. Direct the state of Louisiana to spend your tax dollars on early childhood care and education.
In 2007, the Louisiana Legislature passed a unique package of tax credits known as the School Readiness Tax Credits (SRTC). For Louisiana businesses, there is a refundable
state tax credit for donations made to Louisiana Child Care Resource & Referral (CCR&R) agencies, such as On Track by 5 Alliance.
2019-2020 Services At A Glance...
"Adopt a Center" 11 Type III Early Learning Centers received Louisiana Department of Education Tier 1 Curricula impacting 580 children birth to 5.
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Quality Child Care= Work Productivity. Child care is an economic driver. Working families need quality, reliable care for their children. These children are our future workforce.
School Readiness Tax Credit not only protected, but funding increased. Senator J.P. Morrell allocated an additional $5 million in the 2017 Legislative session to continue to increase the quality of early education.
Businesses can direct where they want their tax dollars to go.
- LA Statute R.S. 47:6107 allows On Track by 5 Alliance, along with six other CCR&Rs across the state, to be eligible to receive the funds.
- School Readiness Tax Credits enable business to turn their tax liability into a investment to improve the quality of childhood experiences.
- For each LA Tax ID number, $5000 can be given in the name of School Readiness Tax Credits. A business with multiple LLCs under their umbrella can give $5000 per LLC.
For more information please contact:
Michelle Mahne, CCR&R Marketing Specialist
ON TRACK by 5 Alliance
326 Gauthier Road
Lafayette, LA 70501
(337) 521-7209