The local Habitat group also learned they are the only authorized corporate sponsor for the Community Contribution Tax Credit Program in Putnam County and they are one of 135 approved statewide, Peterman said. These tax breaks are specifically designed to encourage corporations to make donations. They are able to take 50 percent of their donation as a tax credit against their Florida corporate tax.
Insurance companies can take it as well.
They get Florida tax credits along with federal tax credits. Peterman said Putnam Habitat For Humanity began in 1990 and so far has completed nine homes with six others to be completed in the Ridgedale Subdivision off St. Johns Avenue this year. In the past, financial support for Putnam Habitat For Humanity has come in a variety of ways including private individuals, churches, grants, businesses and the United Way. But with acceptance into the new tax credit program, Peterman hopes to increase local corporate donations to Putnam Habitat. So it's quite an incentive.