In January 2021, DEA became a designated Main Street Community, joining 35 other Main Streets across Washington State. Washington Main Street helps communities revitalize the economy, appearance, and image of their downtown districts using the successful Main Street Approach, a comprehensive revitalization strategy built around a community’s unique heritage and attributes. The Main Street Approach has four focus areas, called the Four Points, which drive our revitalization efforts: Design, Economic Vitality, Organization, and Promotion.
Additional information about the Washington Main Street coordinating program can be found here.
THIS SECTION IS FOR BUSINESSES AND MUNICIPALITIES INTERESTED IN THE MAIN STREET TAX CREDIT INCENTIVE PROGRAM. INDIVIDUALS AND BUSINESSES LOOKING TO MAKE A CHARITABLE DONATION CAN FIND MORE INFORMATION ABOUT OUR 501(C)(3), THE DOWNTOWN EVERETT PARTNERS, HERE.
View the downloadable Main Street Tax Credit Incentive Program info sheet here.
The Main Street Tax Credit Incentive Program provides a Business & Occupation (B&O) or Public Utility tax (PUT) credit for private contributions given to designated Washington Main Street Communities, including the Downtown Everett Association (DEA). To be eligible for the tax credit, businesses must register on the Department of Revenue (DOR) website to pledge their donation. Once your business’ donation request is approved by the Department of Revenue, you are eligible for a tax credit worth 75% of the contribution to the DEA. When you make a donation, 75% of your contribution is returned to you via B&O Tax credits the following year. Please contact your tax preparer for guidance.
Registration for 2023 opens Monday, January 9. There is a state cap on the Main Street Tax Credit, so don’t delay in making your application!
Additional information, including a step-by-step guide to applying from the Department of Revenue, is available on the Washington Trust for Historic Preservation website.
Example:
Your 2023 contribution: $1,000
= $750 2024 B&O Tax Credit
= $250 out-of-pocket donation
= $1,000 that supports downtown revitalization efforts
A donation request must be submitted online through the DOR website, but don’t worry – it’s easy! Step-by-step instructions are available here.
Apply between January 9 and March 31 to guarantee your business will receive the credit. A limited number of credits will be released on April 3 but may run out quickly.
Once confirmed, the pledged amount must be paid in full to the Downtown Everett Association no later than November 1, 2023 to receive the tax credit in 2024. The donation can be spread out into multiple payments throughout the year.
Businesses must take the tax credit the year after the donation is made – the tax credit can’t be carried forward and there won’t be a refund for any credit above and beyond a business’ tax liability.
Payments to the Downtown Everett Association can be made by check. Online payment options are available upon request.
Downtown Everett Association
2707 Colby Ave, Suite F
Everett, WA 98201
last updated 4/17/23
Coastal Community Bank
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Wolfe Fire Protection
Wolfe Plumbing
Anderson Hunter Law Firm
Funko
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KRKO Radio / North Sound Media
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Funko
Anderson Hunter Law Firm
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KRKO/KXA North Sound Media
Peoples Bank
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Burkett’s
Thompson Financial Services
Bayside Floor Supply
Screenprinting NW
Toggle’s Bottle Shop
Harmsen LLC
Aeromech Incorporated
Perteet
Coastal Community Bank
Heritage Bank
Peoples Bank
Funko
Narrative Coffee
Peoples Bank