The Seeley Lake Community Foundation graciously appreciates any and all financial contributions:

Contact:  Anne Beach
annebeach@slcfmt.org
(406) 677-3506

Montana Charitable Endowment Tax Credit

Montana Charitable Endowment Tax Credit After near unanimous passage in the 2007 Legislature, Governor Schweitzer signed into law an extension until 2013 of Montana’s Charitable Endowment Tax Credit (SB 150). The new law maintains current credit levels for both individuals and corporations. In addition, the bill revises the definition of “permanent, irrevocable fund” to exclude contributions that are “expended directly for constructing, renovating, or purchasing operational assets, such as buildings or equipment.” The revised credit continues to provide substantial credits against Montana income tax for certain planned and out-right gifts to qualified endowments. Planned Gifts Credit against state income tax liability in the amount of 40 percent of the present value of any planned gift to a permanent endowment of a Montana charity up to a maximum amount of $10,000 per year per taxpayer. (Applies to individual or business entity taxpayers.)

Outright Gifts

Credit against state income tax liability in the amount of 20 percent of the present value of any outright gift by a business entity to a permanent endowment of a Montana charity up to a maximum of $10,000 per year per taxpayer. (Applies to corporations, small business corporations, partnerships or limited liability company taxpayers.) For detailed information about legislation governing Montana’s Endowment Tax Credit visit the following sections of Montana Code Annotated:

  • Definition of a Planned Gift 15-30-165(1)MCA
  • Definition of a Qualified Endowment 15-30-165(2)MCA
  • Defining the Tax Credit for Planned Gifts 15-30-166MCA
  • Defining the Tax Credit for Outright Gifts by Business Entities 15-31-161 MCA and 15-31-162MCA
  • Charitable Gift Annuity Exemption Act 33-20-701 through 705 MCA