Revenue Administrative Bulletin 2020-14

REVENUE ADMINISTRATIVE BULLETIN 2020-14

Approved:  September 22, 2020

LIST OF CERTIFIED COMMUNITY FOUNDATIONS FOR TAX YEAR 2020 MICHIGAN BUSINESS TAX CREDIT

RAB 2020-14. This bulletin lists the names, addresses and phone numbers of the community foundations that have been certified by the Department of Treasury for tax year 2020 in accordance with Section 425 of the Michigan Business Tax Act (MBTA), MCL 208.1425. Qualifying business taxpayers that elect to file returns under the MBTA for tax year 2020 are eligible to take a credit for contributions made to endowment funds held by community foundations certified by the Department of Treasury. The individual income tax credit formerly available to taxpayers who made contributions to endowment funds held by certified community foundations is no longer available; it was repealed by 2011 PA 38.

Certified Community Foundations for Tax Year 2020

A taxpayer that makes a contribution to a certified community foundation may claim a credit against the MBT liability equal to 50 percent of the taxpayer’s contribution, up to $5,000.00 or 5 percent of the tax liability, whichever is less. This is a non-refundable credit. Listed below are the community foundations that have been certified by the Department of Treasury for tax year 2020. Some of the larger community foundations manage funds of smaller community foundations, known as geographic affiliate funds, that are listed under the managing community foundation. Donations made to a geographic affiliate fund must be claimed by using the managing community foundation’s code on the appropriate tax form. No other applications for certification will be accepted for tax year 2020.

No Community Foundations have been certified for tax year 2020.