If you are a North Dakota taxpayer, you may be able to claim a credit of 40% on a minimum donation of $5,000 to a qualified endowment through the North Dakota Charitable Income Tax Credit. This is on top of the savings you receive on your federal tax return by itemizing your qualifying charitable donation.
For individuals, North Dakota law allows a 40% state tax credit for contributions to qualified endowments of nonprofits. The contribution must be $5,000 or greater, and the maximum credit is $10,000 per year per taxpayer, or $20,000 per year per couple filing jointly.
For donors in a 28 percent federal tax bracket, the tax benefits may look like this:
For businesses, contributions of $5,000 also may qualify for a 40% state tax credit. The maximum credit per year is $10,000.