State of Indiana College Tax Credit
Indiana taxpayers may take a tax credit of half (50%) of their gift to Krannert. For a
joint return, the maximum credit is $200 (based on a gift of $400 or more), and
for a single return, the maximum credit is $100 (for a gift of $200 or more).
The tax credit directly reduces the "bottom line" of your state income tax by
reducing the amount you owe in taxes. All it takes is your gift to Krannert and
one simple form, the Indiana CC-40.
Please obtain the Indiana CC-40 tax form and read the requirements and instructions.
You may obtain the form online by clicking
here, by calling Purdue at (765) 494-7624,
or by e-mailing gifts@purdue.edu.
Federal Tax Advantages
Contributions to Krannert are deductible as charitable contributions within
the limits of the Internal Revenue Code. For information regarding Federal Tax
Advantages visit the
University Development Office (UDO) Tax Advantages page.
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