The SALT Shaker: New Tax Credit for 2015 – Endow Maryland

Commencing in 2015, contributions to Qualified Community Foundations will qualify for a 25% Maryland tax credit. There are 14 charities in Maryland that qualify for the tax credit program. Donations to any of these 14 charities will qualify for a 25% Maryland tax credit that can be used to reduce income tax.

The 14 charities can be found at this link – http://www.mdcommunityfoundations.org/. The total annual amount of credit available is $250,000 and approval from the Maryland Department of Housing and Community Development must be obtained to claim the credit.

The KatzAbosch SALT Group can help you determine if this charitable giving would make sense for you. Please contact the KatzAbosch SALT Group if you have any questions regarding SALT issues.

KatzAbosch
9690 Deereco Road, Suite 500
Timonium, MD 21093
410.828.2727

Posted in: charities, housing and development, KatzAbosch, maryland, MDHCD, SALT, SALT group, tax credit