GA Heart – Tax Credit Donation

GEORGA HEART RURAL HOSPITAL TAX CREDIT PROGRAM –
TOGETHER, LET’S EXPAND OUR HEART!

The HEART Program is a remarkable and brilliant opportunity provided to Georgians by our elected officials. We are the only state in the nation whose taxpayers can financially support our state’s rural hospitals – at no cost!

You can provide essential improvements to health care in our community by contributing to Colquitt Regional Medical Center through the Georgia HEART program, in exchange for a 100% Georgia income tax credit.

Recent IRS regulations provide even more good news and positive impact for many participants in this program. For “C” corporations and some pass-through businesses, the contribution will constitute an ordinary and necessary business expense, which will provide a federal income tax benefit. See “The HEART of the Matter.”

HOW MUCH CAN I CONTRIBUTE FOR A TAX CREDIT?

If you pay Georgia income taxes, you are eligible to receive a 100% state income tax credit for contributing to Colquitt Regional Medical Center as follows:

  • From January 1 through June 30 of each taxable year, taxpayers are eligible to contribute up to $5,000 for individuals, $10,000 for married couples, and $10,000 for pass-through owners.
  • On July 1 of each year, limits for individual and married filing joint taxpayers (including pass-through owners) are waived. This means you can contribute as much as you would like, and you may take the credit against your overall Georgia income tax liability in the current year, or you may carry it forward for up to five future years.
  • At any time during the year, a “C” Corporation or trust shall be allowed a 100% Georgia income tax credit for contributions to RHOs equal to the amount of the contribution, or 75% of the corporation or trust’s income tax liability, whichever is less.

FOLLOW THESE EASY STEPS TO SIGN UP TO CONTRIBUTE FOR YOUR 100% TAX CREDIT:

  • Complete and submit your 2021 HEART Tax Credit Form at www.georgiaheart.org (takes 20 seconds!)
  • Georgia HEART will submit your tax credit pre-approval form on your behalf to the Georgia Department of Revenue (DOR) in the order in which it is received
  • Within 180 days of receiving DOR tax credit pre-approval, or by December 31, 2020, whichever comes first, send a check made payable to Colquitt Regional Medical Center to Georgia HEART for deposit to the hospital’s account
  • Georgia HEART will report your contribution to the DOR on your behalf and will send you a tax receipt
  • You will claim the credit when you file your 2021 Georgia income tax return

Since 2018 Colquitt Regional has received over $9.5 million in tax credit donations. The hospital utilized these funds to enhance the treatment and care specifically for cancer and cancer-related illnesses. In 2018 the construction of the Edwards Cancer Center was completed. A state-of-the-art radiation oncology unit opened in 2021. Medical equipment, such as the Versa HD radiation treatment system, has also been purchased. The funds also assist with uncompensated care for those unable to pay for treatments, prescriptions, chemotherapy, or supplies. An extensive facility infrastructure improvement project including roofing, plumbing, and electrical will be complete in 2021 with funding.

For more information about Georgia HEART rural hospital tax credit program, please visit www.georgiaheart.org or contact the Georgia HEART team at heart@georgiaheart.org or contact our Foundation Program Manager Gina McDonald at gmcdonald@colquittregional.com or (229) 890-3416.