Join Us un Strengthening Natchitoches Parish’s Early Childhood System
Together, we are building and supporting Natchitoches Parish’s early childhood system. Our collective effort is critical- because when families thrive and children have a strong start, Natchitoches community strengthened.
Louisiana’s School Readiness Tax Credits (SRTC)
Louisiana’s School Readiness Tax Credits (SRTC) help to improve the quality of child care and increase access for at-risk children.
There are two types of SRTC’s available for businesses:
Business Tax Credit- Provides a credit for businesses that have donated funds to support eligible child care expenses, based on the quality rating of the center.
2. Child Care Resources and Referral Tax Credit- Provides a credit for businesses matched to the amount donated to Resource and Referral agencies up to $5,000.
These tax credits reduce the taxes paid by individuals and businesses, dollar-for-dollar. Unlike a tax deduction, a tax credit is the whole value of the credit regardless of the tax bracket in which the taxpayer falls. The SRTC are refundable, meaning that they are available to a taxpayer even if they do not owe any taxes. If the SRTC exceed an individual’s tax burden, then the taxpayer will receive a check for the difference after filing their taxes.
Eligible expenses are:
The construction, renovation, expansion, or major repair of an eligible child care facility, or for the purchase of equipment for such facility, or for the maintenance and operation thereof, not to exceed $50,000 in expenses per tax year; and/or
2. Payments made to an eligible child care facility for child care services to support employees, not to exceed $5,000 per child per tax year; and/or
3. The purchase of child care slots at eligible child care facilities actually provided or reserved for children of employees, not to exceed $50,000 per tax year.