Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2013

Governor's Budget Recommendation FY 2013

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2.201 -Charitable Contributions and Gifts Deduction


Item DescriptionFY2011 FY2012 FY2013
2.201 Charitable Contributions and Gifts Deduction
In computing net income, corporations may deduct charitable donations up to 10% of taxable income computed without the deductions. There is a carryover of excess contributions available for five succeeding taxable years.

Origin:  IRC, S. 170 (b)(2)(A), (d)(2)(A)
Estimate:  $46.5
50.4 47.6 46.5

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
M.G.L. Massachusetts General Laws
U.S.C United States Code
ESTIMATES All estimates are in $ millions.


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