The Qualified Endowment Credit is for people and businesses making charitable donations to a qualified endowment.
Eligibility
Individuals, corporations, small businesses corporations, partnerships, trusts, and estates with qualifying contributions.
Contributions
Gifts to a qualified endowment, as defined in 15-30-2327, MCA.
Benefit
20% of a direct charitable gift made to qualified endowments or 40% of the present value of a planned gift, up to $10,000.
This credit is nonrefundable and can’t be claimed on any portion of a gift taken as a deduction under 15-30-2131 or 15-31-114, MCA.
Carry Over
This credit cannot be carried forward or backward.
Forms
You may calculate this credit using the Qualified Endowment Credit (Form QEC).
Related Laws
Quick Information
Due Date
With Return
Benefit
Percentage of Gift Value up to Maximum