57-18 Exhibit - Urging State of New Jersey to Implement Charitable Trust in Lieu of Local Taxes Plan.pdf

State Title  of  Credit Description Amount  of  Credit Statute Montana Credit  for  Contributions   Taxpayers  are  entitled  to  a   A  taxpayer  is  allowed  a  tax  credit   Mont.  Code  Ann.    §15-­‐30-­‐ to  Qualified  Endowments   credit  for  contributions  to  a   against  income  taxes  in  an  amount   2328   qualified  endowment  through  a   equal  to  40%  of  the  present  value  of   planned  giving  program.  The   the  aggregate  amount  of  the   credit  expires  December  31,   charitable  gift  portion  of  a  planned   2019. gift  made  by  the  individual  taxpayer   during  the  year  to  any  qualified   endowment.    The  maximum  credit   that  may  be  claimed  by  a  taxpayer   for  contributions  made  from  all   sources  in  a  year  is  $10,000. Montana Credit  for  Providing   Under  the  “credit  for  unlocking    The  amount  of  the  credit  is  $750   Mont.  Code  Ann.    §15-­‐30-­‐ Access  to  State  Lands state  lands  program,”  Montana   ($500  prior  to  January  1,  2016)  for   2380   allows  a  credit  to  taxpayers  who   each  qualified  access  to  state  land   provide  “qualified  access

allows  a  credit  to  taxpayers  who   each  qualified  access  to  state  land   provide  “qualified  access  to   that  is  provided.  The  maximum   state  land,"  meaning  an  access   credit  that  a  taxpayer  may  claim  in  a   or  corridor  established  through   year  under  this  provision  is  $3,000   a  taxpayer's  property  to  a  parcel   ($2,000  prior  to  January  1,  2016). of  public  land  for  recreational   use  and  certified  by  the   Department  of  Fish,  Wildlife,   and  Parks   Montana Innovative  Educational   Donations  to  educational   100%;  capped  at  $150  annually  per   Mont.  Code  Ann.  §  15-­‐30-­‐ Program  Credit improvement  accounts,  which   taxpayer  ($3  million  statewide) 3110 provide  supplemental  funding  to   public  schools  for  "innovative   educational  programs  and   technology  deficiencies" Montana Tax  Credit  Scholarship  Donations  to  school  scholarship   100%;  capped  at  $150  annually  per   Mont.  Code  Ann.  §  15-­‐30-­‐ Program organizations  that  fund  private   taxpayer  ($3  million  statewide  cap  in   3111 school  K-­‐12  scholarship 2016,  subject  to  change  in  later   years) Nebraska Community  Development   Under

2016,  subject  to  change  in  later   years) Nebraska Community  Development   Under  the  Community   The  maximum  credit  is  40%  of  the   Neb.  Rev.  Stat.    §13-­‐203   Assistance  Act  Credit   Development  Assistance  Act   amount  it  contributed  to  an   (CDDA),  a  credit  is  available   approved  program  during  its  tax   against  the  corporate  income   year.  Credits  are  not  allowed  for   tax,  personal  income  tax,   activities  which  are  a  normal  part  of   financial  institutions  franchise   a  taxpayer's  business tax  and  insurance  tax  for   contributions  to  a  community   betterment  program  in   community  development  areas,   which  are  areas  that  the   Department  of  Economic   Development  has  certified  as  an   area  of  chronic  economic   distress.  These  programs  are   administered  by  nonprofit   community  service   organizations,  business   development  organizations,  or   local  government  units.  Eligible   programs  involve  such  activities   as  job  training,  crime   prevention,  medical

programs  involve  such  activities   as  job  training,  crime   prevention,  medical  services   and  recreational  activities