Innovative Programs Tax Credit
The Montana Legislature passed House Bill 279 in 2021. This bill allowed Montana taxpayers to receive a dollar-for-dollar credit on their state income taxes, up to $200,000 per year for donations to Montana Public School Districts to support innovative Educational Programs. Married taxpayers filing jointly may take a tax credit of up to $400,000. The response to this opportunity in its first year was huge. Individual Montana taxpayers donated $1 million to Montana public schools. In the coming year, the statewide tax credit limit will increase to $6 million. Donated amounts may not exceed the taxpayer's income tax liability buy may be carried forward for 3 years.
YOUR DONATION can help Eureka Public Schools directly benefit our students by providing:
· Vocational Education Opportunities
· Programs, services, and equipment for students with disabilities
· Work Based Learning Partnerships
· Post-secondary credit or career certifications
· Technologies that improve student experiences and opportunities.
DON’T WAIT! MAKE YOUR DONATION EARLY!
HOW TO DONATE?
This opportunity is a first-come, first-served basis. In 2022, 23 taxpayers and 8 schools received donated funds. School districts will begin entering donations into the portal on January 15, 2025, until the $6 million credit limit is depleted
Step 1: Print out the Eureka Public School Cash Donation form, which includes all the required information to qualify for the tax credit
Step 2: Bring the completed form and your donation the the Eureka Public Schools Central Office located in the high school
Step 3: Eureka Public Schools Administration will enter the information from you form and your donation amount onto the DOR Education Donations Portal
Step 4: Once the school records the donation into the portal, the DOR will preapprove the donation as long as the $6 million has not been exceeded, and the donator will be given a receipt that can be filed with your 2025 taxes.
QUESTIONS? MORE INFORMATION
If you are interested in donation or have questions, please contact Eureka Public Schools Superintendent Joel Graves at 406-297-5650 or jgraves@teameureka.net