Charitable Contributions

A corporation cannot deduct charitable contributions that exceed 10% of its taxable income for the tax year. Figure taxable income for this purpose without the following:

• The deduction for charitable contributions
• The dividends-received deduction
• The deduction allowed under section 249 of the Internal Revenue Code
• The domestic production activities deduction
• Any net operating loss carry back to the tax year
• Any capital losses carry back to the tax year

Taken directly from: http://fastforwardacademy.com/index-page-test-subpage-questions-part-businesses.htm