Allocate Your B&O Tax

Tax Credit Contributors make big impacts on our downtown.
Learn how you can do something good for you and your community.

TAX CREDIT EXAMPLES

$1,000 contribution

= $750 tax credit

= $250 out-of-pocket donation*

= $1,000 that supports downtown revitalization

$2,500 contribution

= $1,875 tax credit

= $625 out-of-pocket donation*

= $2,500 that supports downtown revitalization

$5,000 contribution

= $3,750 tax credit

= $1,250 out-of-pocket donation*

= $5,000 that supports downtown revitalization

$7,500 contribution

= $5,625 tax credit

= $1,875 out-of-pocket donation*

= $7,500 that supports downtown revitalization

$10,000 contribution

= $7,500 tax credit

= $2,500 out-of-pocket donation*

= $10,000 that supports downtown revitalization

As part of a Nationally Certified Main Street Community, your business can designate its Business & Occupation (B&O) or Public Utility tax (PUT) to be spent directly on Downtown Kennewick.

To receive the tax credit through Washington State’s Main Street Tax Credit Incentive Program, you apply to give the Historic Downtown Kennewick Partnership, a 501(c)3, a donation through Washington State.

The first open participation period is January - March. During this period, participants may collectively pledge up to $170,940.17 in contributions ($128,205.12 in credits) per community.

The second open participation period begins promptly at 8:00 am on April 1, during which, funds that were not applied for by any community are then accessible to any community up to a total of $213,333.33. Note that this round is competitive and has ended within a few hours in the past.

The third window opens Oct 1st. If there are unclaimed credits remaining statewide, Main Street programs like HDKP will have their funds collectible increased to $333,333.

Key Dates & Deadlines

2nd Monday in January 8:00am MSTCIP applications open
April 1st 8:00am second quarter applications open
November 11th all fulfilled contributions must be reported •
November 16th 8:00am any remaining credits open to network
December 31st all 11/16 fulfilled contributions must be reported

Once the request is approved by the Department of Revenue, you are eligible to claim a tax credit worth 75% of the contribution (up to your total tax liability) the following year. Your donation must be received by November 11, and can be paid in installments. Any pledges made after November 16th (when possible) must be paid immediately before December 31st.

This is a great opportunity to allocate your tax dollars directly to your community!

If you are interested in learning more about how your business can become a Tax Credit Contributor for HDKP, please contact our office and check out the resources below.