Origin: In calculating net income, corporations may deduct charitable donations up to 10% of taxable income computed without the deduction. The Tax Cuts and Jobs Act (TCJA; enacted December 22, 2017) changed the limitation and the charitable deduction is no longer allowed for contributions to a college or university in exchange for athletic event seating rights. There is a carryover of excess contributions available for 5 succeeding taxable years.
This tax expenditure is affected by OBBBA (One, Big, Beautiful Bill Act) which was signed into law on July 4, 2025. Please refer to Appendix A for more details.
Origin: IRC §§170; 170(b); M.G.L. c. 63, § 30.4; PL 119-21, § 70426
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2023
FY2024
FY2025
FY2026
FY2027
Corporate Excise Tax
Deductions from Gross Income
2.201
Charitable Contribution and Gift Deduction
In calculating net income, corporations may deduct charitable donations up to 10% of taxable income computed without the deduction. The Tax Cuts and Jobs Act (TCJA; enacted December 22, 2017) changed the limitation and the charitable deduction is no longer allowed for contributions to a college or university in exchange for athletic event seating rights. There is a carryover of excess contributions available for 5 succeeding taxable years.<BR><BR>This tax expenditure is affected by OBBBA (One, Big, Beautiful Bill Act) which was signed into law on July 4, 2025. Please refer to Appendix A for more details.
<a href="https://www.law.cornell.edu/uscode/text/26/170" target="_blank">IRC §§170; 170(b)</a>; M.G.L. <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63/Section30" target="_blank">c. 63, § 30.4</a>; PL 119-21, § 70426
68.9
74.2
77.7
71.0
66.3
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