IICONN offers tax break for refugee help

Bridgeport-based nonprofit the International Institute of Connecticut announced the opportunity for Connecticut businesses to partner with it and become eligible for state tax credits.

Under the state”™s Neighborhood Assistance Act tax credit program, companies that make cash contributions to IICONN”™s refugee resettlement and employment program can receive a credit of 60 percent of approved donations. The credit can be applied against the corporation business tax, insurance premiums and certain gross earnings taxes.

IICONN”™s refugee resettlement and employment program provides intensive case management and employment services to newly arrived refugees to help them gain work skills, obtain employment and achieve economic self-sufficiency within the first six months after arriving in the U.S. The refugees have been invited by the U.S. to begin their lives over; in most cases they have fled persecution in war torn countries.

Businesses that wish to receive tax credits by sponsoring all or part of IICONN”™s Refugee Resettlement and Employment Program must complete the NAA-02 form and submit it to the Connecticut Department of Revenue Services between Sept. 15 and Oct. 1. The form is available on the DRS website.

Each year, IICONN assists over 7,000 individuals from its offices in Bridgeport, Stamford, Derby and Hartford.

Questions about procedures that businesses receiving the tax credit must follow can be directed to Mike Galliher at the Department of Revenue Services, (860) 297-5687.