Montana Offers a Great Tax Credit for Education Donations
Montana Offers a Great Tax Credit for Education Donations
Tax forms are not my forte. My patience for forms, receipts and moving numbers from column to column is probably the reason. I have none. Zero. Zilch. Nada.
I'd rather be golfing horribly somewhere than doing taxes.
Which is why my wife does them each year. (thanks, honey!) And why I didn't have the slightest idea about tax credits in the state of Montana.
Two Different Tax Credit Possibilities in the State of Montana
For residents and businesses, there are two different ways to earn tax credits for educational donations. Both programs offer the opportunity for individuals to fund education development and earn tax credits for those donations.
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Residents or businesses can "donate any amount to either program, but the tax credit is limited to $150 for each credit. For example: If you donate $200, your tax credit can only be $150. If you donate $50, your tax credit is $50" according to the Montana Department of Revenue.
How To Donate to Either or Both Programs in Montana
The first program is administered by the state through the Office of Public Instruction and provides supplemental funding to public schools for innovative educational programs. You can find out more about it here.
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The second program is through a student scholarship organization, or SSO. The SSO tax credit program is for a nonprofit organization, approved by the state, to provide scholarships to private school students. You can find out more about it here.
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