Michigan Tax Credit

Through December 31, 2011, the State of Michigan provides a tax credit which may reduce your state income tax liability by one-half of the amount of the donation made to the Roscommon County 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, through December 31, 2011.  Donations made after January 1, 2012 will no longer qualify for the Michigan Tax Credit.

Your donation may also qualify for the Federal Tax Credit as a charitable gift.  Please consult your Financial Advisor regarding ALL tax credits.