Capitol Market participates in the Neighborhood Investment Program (NIP).
Businesses and individuals who contribute to NIP organizations are eligible to receive up to 50% of the contributed amount in the form of state tax credits. (Example – A $500 contribution = a $250 tax credit) Donors may use the credits to reduce liability for the following West Virginia taxes:
- Personal Income Tax
- Corporate Net Income Tax
- Business Franchise Tax
The minimum eligible donation is $500.
About the Neighborhood Investment Program
The Neighborhood Investment Program was established by the West Virginia Legislature in 1996 to increase charitable giving to local non-profit organizations. The program allows 501(c)3 designated charitable organizations to apply for tax credit vouchers.
These organization then distribute the vouchers to businesses and individuals who contribute to the organizations. By donating to approved NIP organizations, contributions can support their communities and earn credits to reduce certain West Virginia taxes.