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North Dakota Tax Credit

Tax Credits for North Dakota Taxpayers on Gifts to the University of Jamestown

The State of North Dakota offers tax credits on gifts to the University of Jamestown endowment and on qualified planned gifts to the University.

Businesses and Financial Institutions

Businesses and financial institutions (C corporations, S corporations, estates, limited liability companies and trusts) that make gifts to qualified endowments are eligible for a state income tax credit of 40 percent of the value of the gift, up to a maximum credit of $10,000 per year. Any unused credit may be carried forward for up to three taxable years.

Individuals

Individuals now have two ways to benefit from North Dakota's generous new tax legislation:

Planned Gifts

Individuals who establish a Planned Gift are eligible for a state income tax credit equal to 40 percent of the value of the federal tax deduction, up to $10,000 per person, $20,000 for a married couple with any excess unused credit to carry forward up to 3 years. This tax credit for planned gifts is unique to North Dakota and gives North Dakotans a remarkable opportunity to make meaningful gifts to the University of Jamestown and get a significant reduction in their income tax bills.

Gifts to the Endowment

North Dakota allows a state income tax credit for a charitable contribution to a qualified Endowment Fund, such as the one at University of Jamestown. The credit is equal to 40% of a contribution. The contribution must be at least $5,000, to a maximum donation of $10,000, or $20,000 if married and filing a joint return. For more information about this North Dakota tax benefit, or about anything else regarding Planned Giving, visit our page on Ways to Give, or contact Rick Raum at 701-226-2084 or rick.raum@uj.edu.

For more information on planned giving and specific examples of qualified Planned Gifts, visit our page on Ways to Give. Or contact Rick Raum at (701)252-3467 ext. 5573, or rick.raum@uj.edu.

The University of Jamestown is not engaged in rendering legal or tax advice. This information is meant to provide general information about charitable giving and gift taxation. Please consult your attorney, accountant or financial advisor for advice on your situation.

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