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Colorado tax rule to hit charitable donations
Publication year - 2021
Publication title -
nonprofit business advisor
Language(s) - English
Resource type - Journals
eISSN - 1949-3193
pISSN - 1531-5428
DOI - 10.1002/nba.31060
Subject(s) - legislation , tax deduction , gross income , income tax , economics , public economics , business , agricultural economics , state income tax , law , political science , tax reform
New legislation signed by Colorado Gov. Jared Polis will cap total itemized deductions—which includes donations to charity—at $30,000 for individuals and $60,000 for couples for taxpayers with adjusted gross income of $400,000 or more.