IDAHO EDUCATION TAX CREDIT
Take advantage of the Idaho Education Tax Credit!
Idaho has a unique tax credit opportunity specifically for contributions to schools. Gifts to North Star Charter may qualify for a 50% tax credit (a reduction in the actual tax you owe). If you itemize your taxes, a donation to North Star allows income tax deductions on your state and federal returns, plus a 50% Idaho income tax credit.
- Idaho individuals may take up to 50% of a gift of $1,000 (a tax credit of $500)
- Idaho married couples may take up to 50% of a gift of $2,000 (a tax credit of $1,000)
- Idaho corporations may take up to 50% of a gift of $10,000 (a tax credit of $5,000)
| Donation to North Star | Federal Deduction | State Deduction | Idaho Credit |
Net Tax Benefit | Net Cost of Donation |
| $2,000 | $240 | $120.00 | $1,000 | $1,120.00 | $880.00 |
| $1,000 | $120 | $60.00 | $500 | $560.00 | $440.00 |
| $500 | $60 | $30.00 | $250 | $280.00 | $220.00 |
| $350 | $42 | $21.00 | $175 | $196.00 | $154.00 |
| $250 | $30 | $15.00 | $125 | $140.00 | $110.00 |
| $125 | $15 | $7.50 | $63 | $70.50 | $54.50 |
These amounts reflect approximate rates for a joint return of $40,000 taxable income and are based on the taxpayer who itemizes personal deductions. North Star Charter School, its Board and Administration do not provide any tax advice. As such, any potential donor should consult with their tax advisor for details and applicability of the Idaho Education Tax Credit.
Additional Resources: Idaho Statute Title 63 Revenue and Taxation Chapter 30 Income Tax
https://legislature.idaho.gov/statutesrules/idstat/title63/t63ch30/sect63-3029a/
Corporate Matching Opportunities
Increase the impact of your gift.
Many employers offer matching gift programs as an incentive to encourage charitable contributions from their employees. Your gift could be doubled or perhaps even tripled if you are affiliated with a company that has a matching gift program!
Check with your Human Resources department to find out if your company has a matching gift program.
The paperwork is easy and we can assist you in this process. Please contact Joanna O’Donnell jodonnell@northstarcharter.org if you have any questions.
