Form QEC Qualified Endowment Credit - Montana

What Is Form QEC?

This is a legal form that was released by the Montana Department of Revenue - a government authority operating within Montana. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the QEC Qualified Endowment Credit?
A: The QEC Qualified Endowment Credit is a tax credit available in the state of Montana.

Q: What is the purpose of the QEC Qualified Endowment Credit?
A: The purpose of the QEC Qualified Endowment Credit is to encourage charitable giving to qualified charitable endowment funds.

Q: Who is eligible for the QEC Qualified Endowment Credit?
A: Individuals, corporations, partnerships, and estates are eligible for the QEC Qualified Endowment Credit.

Q: How much is the QEC Qualified Endowment Credit?
A: The credit is equal to 40% of the qualified charitable contribution made to a qualified charitable endowment fund.

Q: Are there any limitations on the QEC Qualified Endowment Credit?
A: Yes, the credit is limited to $10,000 per taxpayer per year.

Q: How can I claim the QEC Qualified Endowment Credit?
A: To claim the credit, you must complete and attach Schedule QEC to your Montana income tax return.

Q: Are there any deadlines for claiming the QEC Qualified Endowment Credit?
A: Yes, the credit must be claimed within 48 months of the date the qualified charitable contribution was made.