Donors have limited window to support schools and get dollar-for-dollar tax credits

Montana schools are seeking to secure a slice of $5 million in donations — and for donors, to get dollar-for-dollar tax credits — for supporting innovative education or scholarships.

A Montana taxpayer, estate, trust, or business may donate up to $200,000 for the Innovative Education Program tax credit to benefit public schools, or the Student Scholarship Organization (SSO) tax credit to benefit private schools. Each program is allotted $5 million.

Tax credits are on a first-come, first-served basis. Schools are tasked with entering donors' information through an online portal to reserve tax credits for taxpayers. The portal opens at 10 a.m. Jan. 17.