Cynthia Utterback
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Cynthia Utterback |
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The Montana Planned Gift Credit for charitable gifts to Montana endowments is a wonderful tool for building a strong foundation for Montana's charities. It is also an excellent tool for estate and income tax planning. Many of our clients have made irrevocable gifts to Montana charitable endowments. Several of these gifts would not have occurred without the incentive offered by the tax credit. I support extension of this tax credit. Most of the planned gifts qualifying for the tax credit far exceeded the $20,000 limit established by the legislature. And the State may receive tax revenues on the income streams resulting from many of these gifts. |
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This credit offers incentive for Montanans to generously support local charitable causes. I fear that without this credit, the gifts to Montana charitable endowments will be significantly reduced and Montana residents would be the ultimate losers. |
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