MNA Weighs in on IRS Proposed Changes to Tax Credit Regulations

MNA’s public comment on IRS proposed changes to tax credit regulations recently gained notice for recommending credits related to an endowment be exempted from the new rules. The proposed IRS changes would reduce the benefit taxpayers currently receive in conjunction with Montana’s Endowment Tax Credit (METC). The new regulations are intended to create a barrier to using State and Local Tax (SALT) workarounds as a response to tax reform. However, in Montana’s case, the METC has been in place since 1995, and has proven to be a win for donors, charities, communities, and partners in government since its inception.

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