MOULTRIE, Ga. – After another successful year in 2020, Colquitt Regional has received notification of its eligibility to participate in the Rural Hospital Tax Credit program for 2021.
This program, facilitated by Georgia HEART, was created by the Georgia General Assembly in response to the significant challenged and cuts in healthcare reimbursements experienced by rural hospitals. It is in effect through December 2021.
Colquitt Regional first participated in this program in 2018. Since then, there have been 623 donors, 95 pass-through businesses, and 11 C-corporations that have contributed. In 2020, Colquitt Regional received over $3.9 million through the program.
“We can’t thank our donors enough for giving to Colquitt Regional through Georgia HEART,” said Colquitt Regional President and CEO Jim Matney. “The past year has been challenging for everyone in healthcare. These funds, especially in a time where budgets have become tighter, allow us to continue providing exceptional care to our patients and still bring necessary resources to our hospital.”
Donors may include those who file taxes as individuals, married couples filing jointly, individual owners of pass-through businesses and C-corporation/Trust companies. Individuals may contribute up to $5,000. Married filers and pass-through business owners may contribute up to $10,000. C-corporations or trust companies may contribute up to 75 percent of income tax liability.
All donors who file through this program, pending the availability of remaining credits, will receive a 100 percent state income tax credit from the Department of Revenue toward their tax cost.
“Contributions made through this program greatly benefit our hospital and the expansion of its services and capital equipment,” said Hospital Authority Chairman Maureen A. Yearta, Ed.D. “Two greatly needed additions made possible through Georgia HEART are the Edwards Cancer Center, which opened in 2018, and our radiation oncology center, which will open in March.”
The Edwards Cancer Center, and its expansion to include radiation therapy, was built to bring local oncology services to the people of Moultrie and the surrounding areas. A large portion of the funds received through the tax credit program is earmarked for additions such as these and to help with indigent care patients needing oncology services.
The filing process is simple and payment is not required until approved by the state. Anyone wishing to defer their tax cost to Colquitt Regional as a donation may contact Gina McDonald at email@example.com for details.