Public Library Contribution Tax Credit

Tax Credits for Contributions to Public Libraries

To receive a deduction for 2017, individuals and corporations must donate to the library by December 31, 2017.

Individuals and corporations that contribute to libraries are eligible for tax savings. Idaho Code section 63-3029A allows individuals and corporations to take a tax credit for monetary charitable contributions made to public libraries, library districts, and the Commission for Libraries.

An individual taxpayer’s contribution to a public library is allowed as an itemized deduction on the federal return and on the Idaho return. In addition, the taxpayer receives an Idaho tax credit for the contribution. The credit is limited to the smallest of one-half of the amount contributed, 50% of the individual’s income tax, or $500 ($1,000 on a joint return).

This credit is also available to Idaho corporations who make a monetary charitable contribution to a public library or library district located in Idaho, or the Idaho Commission for Libraries. For corporations, the credit is limited to the smallest of one-half of the amount contributed, 10% of the corporation’s income tax, or $5,000.

You can advertise this tax credit to solicit end-of-year donations to your library. Please use the flyer below to promote this opportunity to give to your library, and save on taxes.

Donations of goods or services do not qualify.

If you have questions, check with your accountant or the Idaho State Tax Commission for complete information.

To receive a deduction for 2017, individuals or corporations must donate to the library by December 31, 2017.

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2017 Public Library Contribution Tax Credit.docx212.26 KB