Idaho Education Tax Credit
Donations to the Teton Valley Education Foundaition qualify for a 50% tax credit — a reduction in the actual tax you owe. If you itemize your taxes, a donation to TVEF allows income tax deductions on both your state and federal returns, plus a 50% Idaho income tax credit.
- Idaho individuals may take up to 50% of a gift of $1,000 (a tax credit of $500)
- Idaho married couples may take up to 50% of a gift of $2,000 (a tax credit of $1,000)
- Idaho corporations may take up to 50% of a gift of $10,000 (a tax credit of $5,000)
Your tax benefit is dependent on your personal income level and filing status. Please contact your tax consultant for additional information.