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Endowment Credit
To encourage planned giving in Montana, the legislature provides for a Montana State Income Tax credit for certain contributions to permanent endowment funds of Montana charities.
A summary of these rules are:
- Individuals must make planned gifts. Those gifts qualify for a 40% tax credit up to $10,000.
- Planned gifts must have a life of over five years.
- Corporate or other business entity gifts qualify for a 20% credit up to $10,000 and these entities may make outright gifts.
The current Montana Qualified Endowment Credit law became effective July 1, 2003 and will continue through December 31, 2013.
For more information regarding planned gifts or how the Montana Endowment Tax Credit can benefit you as well as Benefis Healthcare Foundation please call Marilyn at (406) 455-5840 or 1-800-544-7798. We would be pleased to personally visit with you or send you further information.
Click here for more information about endowments and philanthropy in Montana.
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