Tax Incentives

New tax incentives for North Dakotans

The state of North Dakota has passed expanded legislation (SB 2160) that should encourage North Dakota individuals and businesses to contribute to qualified endowment funds of North Dakota nonprofit organizations, while receiving significant reduction in their state income tax bills.

For individuals, it allows a 40% state tax credit for contributions to the endowments of nonprofits. The contribution must be $5,000 or greater, and the maximum credit is $10,000 per year per taxpayer, or $20,000 per year per couple filing jointly.

For businesses, including financial institutions, it offers a 40% state income tax credit for contributions to the endowments of nonprofits. The maximum credit per year is $10,000.

Your contribution to one of Prairie Public Broadcasting’s qualified endowment funds at North Dakota Community Foundation or at Fargo-Moorhead Area Foundation will help to keep public broadcasting available for those in our prairie region for generations to come.

For further information, please contact Ann Clark, director of development, at 800-359-6900, ext. 510, or at aclark@prairiepublic.org.

This information is not provided as legal or tax advice. Please consult your attorney or financial advisor for advice on your situation.