Tax credit for Indiana residents
Tax Credit for Individuals
Indiana will give you a 50% tax credit for each dollar you give to Notre Dame, up to $200 in donations or up to $100 of tax credit. The tax credit is applied to your state tax return, either reducing the amount of taxes owed or providing a refund on taxes paid.
This benefit is doubled for individuals filing a married or joint return to a total of up to $400 in donations yielding up to $200 in tax credit.
To take advantage of this opportunity, you must use the Indiana Department of Revenue Schedule CC-40 Indiana College Credit Form when filing your state income tax return.
Indiana Tax Credit for Corporations
Indiana corporations may receive 50% credit for gifts, not to exceed 10% of the company’s adjusted gross income tax or $1,000, whichever is less. For more details, please reference this information bulletin from the Indiana Department of Revenue website.