Tax Benefits
Indiana residents can earn a 50 percent state tax credit on a
gift to Butler University. Gifts up to $200 for single filers and
$400 for joint filers are eligible for the tax credit. Use the
Indiana College Credit tax form (CC40) to take advantage of this
tax credit. (Download the CC-40 form in pdf format.)
| Filing a single return with adjusted gross income |
Federal Tax Bracket |
Gift to Butler |
Indiana State Tax Credit |
Federal Tax Benefit |
After Tax Cost of Gift |
| Less than $7,300 |
10% |
$200 |
$100 |
$20 |
$80 |
| $7,300 - $29,700 |
15% |
$200 |
$100 |
$30 |
$70 |
| $29,700- $71,950 |
25% |
$200 |
$100 |
$50 |
$50 |
| $71,950 - $150,150 |
28% |
$200 |
$100 |
$56 |
$44 |
| $150,150 - $326,450 |
33% |
$200 |
$100 |
$66 |
$34 |
| $326,450+ |
35% |
$200 |
$100 |
$70 |
$30 |
| Filing a joint return with adjusted gross income |
Federal Tax Bracket |
Gift to Butler |
Indiana State Tax Credit |
Federal Tax Benefit |
After Tax Cost of Gift |
| Less than $14,600 |
10% |
$400 |
$200 |
$40 |
$160 |
| $14,600- $59,400 |
15% |
$400 |
$200 |
$60 |
$140 |
| $59,400 - $119,950 |
25% |
$400 |
$200 |
$100 |
$100 |
| $119,950 - $182,800 |
28% |
$400 |
$200 |
$112 |
$88 |
| $182,800 - $326,450 |
33% |
$400 |
$200 |
$132 |
$68 |
| $326,450 + |
35% |
$400 |
$200 |
$140 |
$60 |
Note: Illustration is based on 2005 Tax Rates.
Please contact the Office of University Advancement
for additional information about tax benefits.
Guidelines & Points of Interest:
There is a 50% tax credit on gifts up to a total of $200 for
single filers.
There is a 50% tax credit on gifts up to a total of $400 for
joint filers.
The Federal Tax Benefit is applicable to those
who itemized deductions.
The After Tax Cost of Gift is provided to
illustrate potential tax savings. Individual tax situations vary;
please consult your personal tax advisor.