Michigan

01/02/06

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The Michigan Tax Credit

The state of Michigan provides an additional incentive for supporting qualified private and public charities in Michigan by allowing a tax credit on the state income tax form

 

Credits are even more powerful than deductions as tax saving devices because they are direct dollar-for-dollar deductions of tax.

  

Gifts to Classic Christian Radio qualify for the Michigan Tax Credit. The credit equals 50% of the amount of the gift up to certain limits. The maximum gifts to qualify for  the full 50% credit are:

 

$200 for single (a $100 credit) and $400 for couples (a $200 credit).

"We are to be centers through which Jesus can flow as rivers of living water in blessing to everyone. Some of us are like the Dead Sea, always taking in but never giving out."
           - Oswald Chambers

Becoming a financial partner with Classic Christian Radio is a really great investment! Your donation is tax deductible. After tax credits, it may only cost the average married couple $56 out-of-pocket to make a $400 contribution to Classic Christian Radio. Businesses can see even greater tax savings!  Consult your tax adviser for more information on deductions.

The Michigan Tax Credit is an amazing benefit available for only a few non-profit organizations in Michigan. Classic Christian Radio is a Public Broadcasting Station, when you complete your Michigan Tax Return, be sure to list your donations to Classic Christian Radio as donations to a Public Broadcasting Station.

 

 

Single
Taxpayer

Married
Taxpayer

Business

ACTUAL GIFT

$200

$400

$10,000

Michigan Tax Credit

$100

$200

$5,000

Federal Tax Rate

15%

36%

34%*

Federal Tax Savings

$30

$144

$1,700*

Total Tax Savings

$130

$344

$6,700

ACTUAL COST OF GIFT

$70

$56

$3,300

 

 

Federal Tax Credit

 * Sample Tax Rates.  Consult your tax adviser for specific information on tax deductions.

You can mail your check to:

Classic Christian Radio

P.O. Box 1001

 Lapeer, MI 48446

Email: mail@ccr891.com 

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This site was last updated 04/22/05