Christ.  Scholarship.  Service.

Tax Advantages

If you file a state income tax return for Indiana, the state will credit up to 50% of your gift to Indiana colleges and universities against any state income taxes due. Download the CC-40 Form and include it with your Indiana tax return.

Individual filers receive a $100 credit for the first $200 contributed; joint filers receive a $200 credit for the first $400 contributed. If you itemize, your contribution may also qualify as a deduction on your federal tax return.

Here is how it works: 

$200 Gift to Huntington University
 Federal 
State SavingsTax %SavingsCost of Gift to HU
$10015%$30$70
$10025%$50$50
$10028%$56$44
$10033%$66$34
$10035%$70$30
$10039.6%$79.20$20.80
 
$400 Gift to Huntington University
 Federal 
State SavingsTax %SavingsCost of Gift to HU
$20015%$60$140
$20025%$100$100
$20028%$112$88
$20033%$132$68
$20035%$140$60
$20039.6%$158.40$41.60
 
Consult your tax or financial advisor for how this strategy will fit into your giving plan.