What is the State Charitable Tax Deduction?
The State Charitable Deduction is a charitable contributions deduction that applies to all donations made from January 1, 2023—on. It includes all Massachusetts taxpayers, regardless of whether they itemize federally.
Why is it important for nonprofits?
The Massachusetts deduction provides nonprofits with a new tool to promote giving and increase fundraising revenue. It has been long-supported by MNN.
Below, we’ve put together some resources to help you learn more about the deduction, and spread awareness of how this will positively impact nonprofits.
More information:
- Boston Business Journal Article: Viewpoint: The state’s charitable deduction in effect—and needed
- MassNonprofit News: Revived Mass. charitable deduction takes effect this year
- Nonprofit Times: State Gives Birth To 23-Year-Old (Tax Break)
For questions or materials requests, contact Jessica Holmes at jholmes@massnonprofitnet.org.
