Montana Tax Credit

As a tax-exempt 501(c)(3) nonprofit organization, the credit is available to individuals and businesses that give to the Billings Public Library Foundation Endowment.

For individuals, your tax credit will be 40% of your planned gift’s federal charitable deduction value (up to a maximum of $10,000 per person or $20,000 per couple). For businesses, the credit is calculated at 20% of the value of the gift, up to of $15,000.

Tax credit or tax deduction? Tax deductions lower your taxable income. Tax credits provide a dollar-for-dollar reduction of your state income tax liability. This means that a $10,000 tax credit saves you $10,000 in taxes.

QUALIFYING GIFTS

• Charitable Gift Annuities
• Deferred Charitable Gift Annuities
• Charitable Remainder Unitrusts
• Charitable Remainder Annuity Trusts
• Pooled Income Fund Trusts*
• Charitable Lead Trusts
• Charitable Lead Annuity Trusts
• Charitable Life Estate Agreements
• Paid-up Life Insurance Policies

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