The College Contribution credit is for people and businesses making donations to college endowments.

Eligibility

Any individual, corporation, partnership, small business corporation, estate, or trust who pays taxes in Montana with qualifying contributions.

Contributions

Contributions to a general endowment fund of:

• The Montana University System foundations
• Montana private colleges
• Community colleges
• Tribal colleges
• Or one of their foundations

Benefit

10% of the aggregate amount of charitable contributions made by the taxpayer during the tax year, up to a maximum credit of $500.

In addition to this credit, your contribution may also be claimed as an itemized deduction.

Carry Over

This credit cannot be carried forward or backward.

Forms

You may calculate this credit using the College Contribution Credit (Form CC).

Related Laws

15-30-2326, MCA and 15-31-135 through 15-31-136, MCA