The Japanese parliament has approved a 3.29 percent cut in the corporate tax rate from an effective rate of about 35 percent, according to Bloomberg. Prime Minister Shinzo Abe has previously announced plans to lower the...
- Gift of Stock
Gift of Stock
Transferring securities held long term to the Tax Foundation allows you to make a gift and receive a charitable deduction equal to the full, fair market value of the securities. You pay no capital gains on your gift and neither does The Tax Foundation.
The easiest method of transferring these assets to The Tax Foundation is to contact your broker and electronically transfer the stock from your account to The Tax Foundation’s account. Avoid selling the assets and then making a gift of the proceeds, because this will trigger a capital gains liability for you.
In order for the Tax Foundation to acknowledge your gift and provide you with an IRS receipt, please take the following steps:
- Call Mr. Michael Vogler, Vice President of Development at (202) 464-5106 and let him know that you would like to make a gift of stock.
- Provide your name, your phone number, the name of the stock you are giving and the number of shares (e.g. 20 shares of Microsoft)
- Call your broker with the information below and ask your broker to contact the Tax Foundation accountant, Chris Krukewitt at (202) 464-5117.
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