A provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act raises the limits on business contributions of food inventories to charities. The law, signed on March 27, specifies that the donation must be made to a charity that will use it for the care of the ill, the needy or infants. The donation is deductible in an amount up to the basis plus half the gain that would be realized on the sale of the food (not to exceed twice the basis). For C corporations, the deduction can’t exceed 15% of income. For other companies, the deduction can’t exceed 15% of the taxpayer’s aggregate net income for that tax year from all trades or businesses. Additional rules apply.