CENTENNIAL, Colo. — The Office of the State Auditor has created a team to review the state’s tax expenditures (i.e. credits, deductions, exemptions, etc.). Currently, they are assessing the state income tax credit for taxpayers who donate food to food banks. This tax credit is a result of House Bill 14-1119 “The Colorado Charitable Crop Donation Act”.
They want to hear from you! The state needs your feedback to learn:
- How much Colorado agricultural producers are using this credit?
- How much of an incentive it really is to you?
- What the typical cost of harvesting and/or transporting the extra crops being donated is?
- Whether there have been any disputes with the food banks regarding spoilage or other issues?
- How you determine the reported value of the donations, etc.?
— Colorado Farm Bureau
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