IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center

IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center: "The IRS has ruled that payments of cash or property to a state agency or charitable organization that produce transferable state tax credits are considered qualified charitable contributions under section 170 of the Internal Revenue Code and are not a payment of tax possibly deductible under � 164. Further ruled, in the case of transfers of property, such transfers are not considered a taxable disposition under section section 1001."