WHAT YOU NEED TO KNOW The Idaho State Legislature passed a bill to create the Idaho LAUNCH grant program. Idaho LAUNCH aims to prepare Idaho’s students for the state’s workforce needs. It provides access to grants for education and training programs in high-demand fields. This is an incentive that will help students graduating high school in 2025 pay 80% of their tuition and fees up to $8,000 at an eligible institution. This will cover most of the cost of tuition for many CEI students who qualify. Only 15% of the CEI Foundation scholarship applicants for the 24-25
academic school year were recent high school graduates. There is still a huge need for scholarship donations to help students who will not be able to access Idaho LAUNCH funds. To find out more information about the program, go to www.nextsteps.idaho.gov
BY GIVING TO THE CEI FOUNDATION YOU CAN EARN AN IDAHO TAX CREDIT DID YOU KNOW THAT YOU COULD EARN A TAX CREDIT ON YOUR IDAHO TAXES JUST BY GIVING TO THE CEI FOUNDATION? Idaho allows you to contribute to certain educational and cultural organizations while reducing the amount of state income tax you owe. This is a tax credit you can take even if you don’t itemize. Contributions are reduced by the value of anything you receive in return such as food, entertainment, or merchandise. You can claim the credit on your Idaho income tax return for the year when you made the contribution(s). For C and S corporations, the law limits the yearly credit to the smallest of: • $5,000 • 10% of total income tax or franchise tax owed for the year. • 50% of the amount donated. For all other businesses, individuals, and entities (such as estates and trusts), the law limits the yearly credit to the smallest of: • $500 per taxpayer ($1,000 total for married individuals filing jointly) • 50% of total income tax (For example, the amount on Form 40, line 21, for Idaho resident individuals) • 50% of the amount donated. Talk to your tax advisor or contact the Idaho State Tax Commission if you have questions about this credit.
Visit ceigiving.org or email scholarships@cei.edu 8
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