HB859

Montana HB859 provides income tax credits for contributions to community improvement organizations.

Montana HB859 introduces an income tax credit for contributions to community improvement organizations. The credit is available to taxpayers and corporations for cash contributions to organizations that are tax-exempt under section 501(c)(3) of the Internal Revenue Code and perform fundraising activities or fund distribution to enhance, remodel, or support public facilities. The credit amount is equal to the cash contribution, up to the lesser of 10% of Montana taxable income claimed on the return or $3,000.