Brief An Analysis of Potential Tax Incentives to Increase Charitable Giving in Puerto Rico
In Brief
Elizabeth T. Boris, Joseph J. Cordes, Mauricio Soto, Eric Toder
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This policy brief summarizes the findings of a larger report on potential tax incentives to increase charitable giving in Puerto Rico. Improved incentives for private charitable giving would strengthen nonprofit organizations in Puerto Rico. Taxpayers may choose between a 100 percent deduction for contributions over 3 percent of adjusted gross income (AGI) or a 33 percent deduction for contributions with no floor. Deductions may not exceed 15 percent of AGI. Removing the 15 percent ceiling would be a relatively cost effective way of encouraging more giving.
Research Areas Economic mobility and inequality Nonprofits and philanthropy Taxes and budgets
Tags Fiscal policy Nonprofit data and statistics State and local tax issues Federal budget and economy Data and technology capacity of nonprofits Charitable giving
Policy Centers Center on Nonprofits and Philanthropy