Main Street Tax Credit Incentive Program
Direct Your B&O Taxes to Supporting Downtown Snohomish
Would you like agency to how your B&O Tax Dollars are being used? The Main Street Tax Credit Incentive Program offers businesses a unique opportunity to support the Historic Downtown Snohomish Association (HDSA) while receiving a substantial tax benefit. By participating, businesses can direct their state Business & Occupation (B&O) or Public Utility Tax (PUT) dollars to HDSA's revitalization efforts and receive a tax credit equal to 75% of their contribution - keeping your hard earn dollars working in your own community!
How it works
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Pledge Your Donation to HDSA: Starting January 12, 2026, businesses can submit a pledge through the Washington State Department of Revenue's (DOR) online portal. Due to limited available credits, early application is advised.
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Approval: Once the DOR approves your pledge, you become eligible for a tax credit worth 75% of your pledged contribution to HDSA.
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Fulfill your Pledge: After approval, you must fulfill your pledged donation to HDSA by November 1, 2026. Payments can be made in installments throughout the year or in one lump sum.
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Claim Your Tax Credit: In 2027, you can claim your B&O tax credit equal to 75% of your 2026 contribution. Note that the credit must be used in the year it's available and cannot be carried forward or refunded beyond your tax liability.
Examples:
A $1,000 contribution results in a $750 B&O tax credit
A $5,000 contribution results in a $3,750 B&O tax credit
​Check out this helpful presentation for actual applied examples
Ready to Learn More?
Contact our Development Manager, Shaunna Ballas to learn more about your business can take advantage of this tax credit and invest in your community at the same time.
Thank you to
our 2025
MSTCIP Donors!
Corstone Enterprises
Dane Styles
Dynon Avionics
McDonald's Snohomish
People's Bank
Puget Sound Energy
Snohomish Bakery
Snohomish Sports Dome
Swans Trail Farms
Top It Yogurt Shoppe
HDSA is an accredited Washington State Main Street Community, making contributions eligible for this program.
For detailed application instructions, refer to the Washington Trust for Historic Preservation's step-by-step guide.
HDSA is a 501(c)3 non-profit organization. Your donation may also qualify as a deduction on your federal tax return. Consult your tax preparer for personalized guidance.
