Gift Planning Leave a Lasting Legacy
Gift Planning

Montana Endowment Tax Credit

Save up to $15,000 on your Montana Taxes

What is the Montana Endowment Tax Credit

The Montana Endowment Tax Credit offers each individual taxpayer a credit of 40% of a qualifying planned gift's federal charitable deduction, up to a maximum of $15,000, per year, per individual. It also allows a credit of 20% of a gift's federal charitable deduction for a direct gift by a qualified business up to a maximum of $15,000 per year.

What is a planned gift?

Planned gifts (Planned Giving) are a way of giving that allows donors to maintain access to income during their lifetime, provide estate and tax planning tools, and build permanent wealth for Montana's charities, nonprofit organizations and local community foundations. Things like gift annuities, charitable trusts and some estate gifts all fall into this category.

How does this work?

A tax credit is a dollar-for-dollar reduction of your income tax liability.

Mark and Katie generously made gift of $40,000 to St. John's Foundation in the form of a Deferred Gift Annuity. Based on their ages, their tax credit equals $15,323.