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North Dakota Tax Credit

Recent North Dakota legislation increases the opportunities for North Dakota taxpayers to receive a generous 40 percent state income tax credit for charitable contributions to organizations like The Salvation Army.

Charitable Gifts = 40% Tax Credit

Your gift does triple duty: 1) Qualifying gifts over $5,000 benefit you through a 40 percent North Dakota state income tax credit. 2) It funds services to help people today. 3) It will provide a guaranteed source of income The Salvation Army can rely on to meet future needs.

Overview

  • The credit is available to both individuals and businesses
  • The minimum qualifying gift is $5,000 (lump sum or aggregated over the tax year)
  • Both outright and planned gifts can qualify
  • The maximum credit for a single tax year is $10,000 for an individual, $20,000 for a married couple and $10,000 for business entities. There are provisions for carryover.

Three Ways to Get the Tax Credit

  • Individuals:

    • Make an outright gift to a qualifying Salvation Army endowment fund. Your gifts can be in the form of cash, securities or real estate.
    • Make a planned gift to The Salvation Army such as a charitable gift annuity; certain forms of charitable trusts and paid-up life insurance may qualify.

    Businesses:

    • Make an outright gift to a qualifying Salvation Army endowment fund.

Outright Endowment Gift Tax Credit Examples

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Tax Credit Plus Income for Life with a Charitable Gift Annuity

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Important Points to Remember

If you could use this generous tax credit, contact your tax adviser or The Salvation Army’s planned giving office:

Tom Cierzan
Senior Director of Gift and Estate Planning
The Salvation Army-Northern Division
Direct Line: (651) 746-3515
Cell: (612) 505-3853
Email: tom.cierzan@usc.salvationarmy.org
Website: https://thesalarmygiftplan.org