2.201 -Charitable Contributions and Gifts Deduction

Item	Description	FY2010	FY2011	FY2012
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: $61.9	62.5	61.3	61.9

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.