A partial income tax credit can be claimed for donations to a qualifying Michigan public institution. The credit is based on cash or the value of the item(s) donated. Values claimed must be supported by written appraisals, trade journals, etc., or by an itemized receipt.
Gifts qualify for credit if given to:
- Michigan colleges or universities and their fundraising organizations
- The Michigan Colleges Foundation
- The State Art in Public Places Fund
- The Michigan Historical Center
- Michigan public libraries
- Michigan public broadcasting stations
- A Michigan municipality or a nonprofit corporation affiliated with a Michigan municipality and an art institute in that municipality to benefit the art institute (art institutes are those whose primary function is the displaying and teaching of visual arts)
- The State of Michigan for the preservation of state archives
Artwork created by the taxpayer also qualifies for credit if given to:
- The State of Michigan for display in public place
- A Michigan municipality for public display
Artwork is an original visual creation of quality in any size or shape, in any media, using any materials. Its fair market value must be determined by an independent appraiser when donated.
We will figure the credit which is the smaller of:
- 50% of the contribution reported, or
- $100 ($200 for a joint return).
Treasury may request receipts for credits. Cancelled checks will not be accepted in place of receipts. Keep all receipts.