What is the Main Street Tax Incentive Program?

THE BASICS:

Keeping your state B&O and Public Utility Taxes local!

The Main Street Tax Credit Incentive Program (MSTCIP) provides a Business & Occupation (B&O) or Public Utility tax (PUT) credit for private contributions given to eligible downtown organizations, like the Historic Downtown Kennewick Partnership.

 

  • Eligible Washington Main Street community organizations – like the Historic Downtown Kennewick Partnership -– can receive contributions through the Main Street Tax Credit Incentive Program.

  • Businesses earn a state B&O tax credit of 75% of their contributed amount, essentially re-directing these taxes to local economic revitalization.

  • Businesses must be registered to file their state excise tax electronically in order to participate.

  • A pledge to contribute must be submitted online through the Department of Revenue website, with the Historic Downtown Kennewick Partnership selected as the credited community.

  • The pledged contribution can be spread out throughout the calendar year, but the full amount must be received by the Historic Downtown Kennewick Partnership by November 11, 2024.

  • Participating businesses must take the tax credit the following year the donation is made – the tax credit cannot be carried forward.

  • A business may apply for up to $250,000 in credits each year.


Tax Credit Contributors

Thank you to our 2023 Tax Credit Contributors.
Your dollars help fund projects and keep our downtown moving and growing.