University Advancement
Idaho Tax Credit
All Idaho taxpayers are able to claim an income tax credit worth 50% of their gift to NNU.
Individuals may take up to 50% of a $1000 gift, married couples 50% of a $2000 gift, and Corporations up to 50 % of a $10,000 gift. In addition to the tax credit there are Federal and State Tax Savings when you itemize.
The tables below show examples of savings available through the expanded state program:
|
Individual Contribution
|
$500
|
$1,000
|
$2,000*
|
|---|---|---|---|
|
Federal Tax Savings
|
$125
|
$250
|
$500
|
|
Idaho State Tax Savings
|
$37
|
$74
|
$148
|
|
Idaho Tax Credit
|
$250
|
$500
|
$1,000
|
|
Actual Cost Of The Gift
|
$88
|
$176
|
$352
|
*Based upon a 25% tax bracket and joint filing in Idaho
|
Business Contribution
|
$10,000
|
|---|---|
|
Federal Tax Savings
|
$3,400
|
|
Idaho State Tax Savings
|
$740
|
|
Idaho Tax Credit
|
$5,000
|
|
Actual Cost Of The Gift
|
$860
|
NOTE: Certain limitations apply. Please note that your tax benefit is dependent on your personal income level and filing status. We urge you to consult your financial advisors to develop the best contribution plan for your personal circumstances. Thank you for your prayerful consideration in supporting NNU students! Make your gift to NNU today.
Gregor Slonaker
Associate Director, Scholarship & Legacy Gifts
