400 Club Tax Benefits
In addition to rewarding an exceptional student or helping a student in financial need, Indiana residents will qualify for the Indiana Tax Credit. Your donation may also qualify as a charitable donation on your Federal Income Tax. Contact your tax advisor.
The credit is available even if you are a taxpayer who does not itemize deductions on the federal return.
The tax credit directly reduces the "bottom line" of the state income tax return, either decreasing the amount owed or increasing the refund.
For a joint return, the maximum credit is $200 (based on a gift of $400 or more); for a single return, the maximum credit is $100 (for a gift of $200 or more).
Other rules apply, so read the CC-40 instructions carefully or consult your tax advisor.
The CC-40 tax form is available at locations that stock other Indiana tax forms. Also, you may download the form on the internet at www.in.gov/dor/3489.htm or call Purdue at (765) 494-7624 to request a CC-40 form.
College of Technology — Kokomo
2300 S. Washington St.
P.O. Box 9003
Kokomo, IN 46904-9003
Phone: (765) 455-9339