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.
