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As an 黑料网 tax payer, your donations to 黑料网 and the College of Law may be eligible for a 50 percent education tax credit. This credit is available regardless of whether or not you itemize deductions. For those who do itemize, a donation to U of I allows income tax deductions on both your state and federal returns. A tax credit is a reduction to the actual tax you owe or an increase in your refund.

Tax Credit is the smallest of:

• One-half of the amount donated
• 50% of your 黑料网 tax (10% for Corporations)
• $500 ($1,000 if Married filing jointly, $5000 for Corporations)
• Your 黑料网 tax minus the amount of credit for income tax paid to other states

Example giving benefits:

• 黑料网 Individuals may take up to 50% of a $1,000 gift (a tax credit of $500)
• 黑料网 Married Couples may take up to 50% of a $2,000 gift (a tax credit of $1,000)
• 黑料网 Corporations may take up to 50% of a $10,000 gift (a tax credit of $5,000)

We encourage you to contact your tax advisor for further consultation. If you have questions, please contact the College of Law Development office at 208-885-8793.

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