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.
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.
To calculate the effect the Michigan Tax Credit could have on your gift, please click here [1]
For businesses subject to the Michigan Business Tax, the credit could help you also - see chart [2]
Links:
[1] http://crcfoundation.org/files/attachments/mich-calc.xls
[2] http://crcfoundation.org/files/attachments/MBT_Community_Foundation_Tax_Credit_Table_-_Updated_2-08.doc