Malta Public Schools would like you to be aware of an excellent opportunity to support educational programs at Malta Schools by directing your Montana tax dollars directly to our school district. Through the Innovative Educational Program Tax Credit, you can receive a dollar-for-dollar tax credit on your state tax bill by making a cash donation to the Malta School District. Your dollars will allow us to expand and improve our educational programs in the following areas:

• transformational and advanced learning opportunities;

• programs, services, and instructional equipment to assist students with disabilities;

• courses that provide work-based learning opportunities or post-secondary credit or career certifications for our students;

• technology enhancements, capital improvements, and necessary equipment to support innovative programs.

This dollar-for-dollar tax credit is awarded on a first-come, first-served basis for all of the districts in Montana. The legislature capped the total available tax credits at $5,000,000 for the 2024 tax year and those credits were claimed in a matter of days of the online portal being opened. Individuals, businesses, corporations, estates, trusts, LLCs, and partnerships can donate up to $200,000 per year for this program. The amount donated cannot exceed the taxpayers income tax liability, but the tax credits may be carried forward for 3 years.

• Call or stop by the Malta School District Central Office to pick up a donation form and visit about your donation and have your questions answered.

• The district must have a completed form and the actual donation in hand before the donation can be registered with the Montana Department of Revenue.

• The Department of Revenue's online portal for 2025 donation registration opens on January 15, 2025 at 10:00 AM. It is expected that the $5,000,000 of credits will be claimed in a matter of days, or even hours. Once the portal opens, the district will register donations that is has received.

• If the donation is registered before the statewide cap has been reached, the donation will be pre-approved by the state and you will receive a tax donation receipt to be used on your Montana tax return. (those credits can be utilized over the next three years).

• If the statewide cap has been reached before your donation is able to be registered, the donation will not be approved for tax credits. Any donations not approved by the Department of Revenue will be returned, if you so choose.

• Visit the Montana Department of Revenue website for more information.

If you are looking to make a donation for the 2024 tax year, you may still be able to do so. Each year, some donations are invalidated for a variety of reasons, making those tax credits available again. At this time, there are $227,000 of tax credits that will be made available on October 2, 2024. At that time, districts can register donations on the Department of Revenue online portal to claim those credits. If you are interested in making a donation and receiving tax credits for the 2024 tax year, ACT FAST! Contact the Malta School District Central Office, 406-654-1871, before Oct. 2, 2024 to find out more.