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2.201 -Charitable Deduction
| Item | Description | FY2008 | FY2009 | FY2010 |
|---|---|---|---|---|
| 2.201 | Charitable 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 Estimate: $43.7 |
47.5 | 45.1 | 43.7 |
Key:
| ORIGIN | |
| IRC | Federal 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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