UIndy Web Directory

Related Information

• Student Athletic Recreation Center Campaign
• Alumni Association
• Greyhound Club
• UIndy Home

Tax Benefits

Indiana residents can earn a state tax credit on a gift to the University of Indianapolis. An individual is allowed a credit of 50 percent of the contribution or $100 (on a single return) or $200 (on a jointly filed return), whichever is less. Use the Indiana College Credit tax form (CC-40) to take advantage of this tax credit.

Indiana College Credit Tax Form (CC40)

 

Amount of Gift:	$
Resident of Indiana:		Y N
Note: Illustration is based on 2009 Tax Rates.

Filing a single return

Adjusted Gross Income	Federal tax bracket	*State tax credit	**Federal tax benefit	***after tax cost of gift
$0 - $8,350	10%
$8,350 - $33,950	15%
$33,950 - $82,250	25%
$82,250 - $171,550	28%
$171,550 - $372,950	33%
More than $372,950	35%

Filing a joint return

Adjusted Gross Income	Federal tax bracket	*State tax credit	**Federal tax benefit	***after tax cost of gift
$0 - $16,700	10%
$16,700 - $67,900	15%
$67,900 - $137,050	25%
$137,050 - $208,850	28%
$208,850 - $372,950	33%
More than $372,950	35%

Please contact Andrew Kocher in University Advancement for additional information on tax benefits.

*The state of Indiana gives residents a 50 percent tax credit on gifts up to a total of $200 for single filers and on gifts up to a total of $400 for joint filers. The state of Indiana gives residents a $100 tax credit on gifts over a total of $200 for single filers and a $200 tax credit on gifts over a total of $400 for joint filers.

**Applicable for those who itemize deductions. Please note that this schedule does not reflect the effect of the phaseout of itemized deductions for high income tax payers.

***This schedule is provided to illustrate potential tax savings. Individual tax situations vary; please consult your personal tax adviser.