Year End 2019

*An individual is allowed an income tax credit for making a charitable contribution to a qualified endowment fund. The credit is equal to 40 percent of the contribution, up to a maximum credit of $10,000 (or $20,000, if married filing a joint return). To qualify, the contribution(s) to a particular endowment fund must total at least $5,000 for the tax year. An adjustment must be made to increase the individual’s North Dakota taxable income by the amount that the contribution reduced the individual’s federal taxable income. If the credit exceeds the individual’s tax in the tax year in which the contribution is made, the excess credit may be carried over and used on subsequent tax years’ returns for up to 3 years.