Eisenhower Foundation Credit

INCOME AND PRIVILEGE TAXPAYERS – Effective for all taxable years beginning after December 31, 2020 and before January 1, 2026.

Qualifications

A resident individual, corporate or privilege taxpayer must make a contribution to the Eisenhower Foundation. Non-resident individual taxpayers do not qualify for the tax credit.

Credit Amount

The credit amount is equal to 50 percent of the total contribution made during the taxable year.

If the amount of credit exceeds the taxpayer’s tax liability, the remaining credit is not allowed to carryover or to be refunded.

Limitation of Credit

The amount of credit shall not exceed $25,000 for any resident individual taxpayer subject to the income tax or $50,000 for any taxpayer subject to the income tax on corporations or the privilege tax on financial institutions.

The total amount of credits allowed shall not exceed $350,000 for any one fiscal year.

Procedures to Claim the Credit

You may download the credit schedule to claim the Eisenhower Foundation tax credit soon.

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