Quick Links
Volume 1
Volume 2
- Financial Statements
- Capital Budget
- Preambles & Sections 1-1C
- Appropriations Recommendations
- Operating Transfers
- Local Aid - Section 3
- Outside Sections Summary
- Tax Expenditure Budget
- Resources - PDF Files
Other Legislation
2.201 -Charitable Contributions and Gifts Deduction
| Item | Description | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|---|---|---|---|---|---|
| 2.201 | Charitable Contributions and Gifts Deduction
In computing net income, corporations may deduct charitable donations up to 10% of taxable incomes computed without the deductions. There is a carryover of excess contributions available for 5 succeeding taxable years. Origin: IRC, S. 170 (b)(2)(A), (d)(2)(A) Estimate: $25.4 |
23.4 | 25.5 | 25.5 | 24.6 | 25.4 |
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. |
top of page