Current legislation provides a tax credit which may reduce your State of Michigan income tax liability by one-half of the amount of the donation made to the Capital Region Community Foundation for permanent endowment in any fund, subject to limits based on filing status.
- For single individuals or married taxpayers filing separately the maximum credit is $100 (for gifts of $200 or more).
- For married couples filing jointly, the maximum credit is $200 (for gifts of $400 or more).
- For corporations and others which pay the Michigan Business Tax, the maximum credit is $5,000 or 5% of the tax liability before claiming any credits, whichever is less.
The credit is in addition to those available for donations to Michigan colleges and universities, public libraries and public broadcasting stations, or Michigan homeless shelters and food banks.
Your donation continues to be deductible as a charitable gift for federal tax purposes.
To calculate the effect the Michigan Tax Credit could have on your gift, please click here
For businesses subject to the Michigan Business Tax, the credit could help you also - see chart
File attachments:
