Who Qualifies for this Tax Credit?
Arizona “C” Corporation(A.R.S. § 43-1183 & An Arizona “S” Corporation(A.R.S. § 43-1089.04)can donate to a School Tuition Organization (STO). There is an annual state maximum credit(s) of up to $123,042,188 that opens on July 7, 2020 for the 2020-2021 school year. Credits are allocated on a first-come-first-serve basis.
-“C” Corporations can donate up to their state income tax liability for the given tax year as long as it does not exceed the statewide maximum for the year.
-“S” Corporations may donate up to their state income tax liability for the given tax year with a minimum donation of $5,000 and then pass the tax credit on to its shareholders proportionately.
-“C” Corporations can donate up to their state income tax liability for the given tax year as long as it does not exceed the statewide maximum for the year.
-“S” Corporations may donate up to their state income tax liability for the given tax year with a minimum donation of $5,000 and then pass the tax credit on to its shareholders proportionately.
How Much Can I Donate?
There is an annual state maximum credit(s) of up to $123,042,188 that opens on July 7, 2020 for the 2020-2021 school year. Credits are allocated on a first-come-first-serve basis.
-“C” Corporations can donate up to their state income tax liability for the given tax year as long as it does not exceed the statewide maximum for the year.
-“S” Corporations may donate up to their state income tax liability for the given tax year with a minimum donation of $5,000 and then pass the tax credit on to its shareholders proportionately.
-“C” Corporations can donate up to their state income tax liability for the given tax year as long as it does not exceed the statewide maximum for the year.
-“S” Corporations may donate up to their state income tax liability for the given tax year with a minimum donation of $5,000 and then pass the tax credit on to its shareholders proportionately.
Who Receives My Donation?
We support all qualifying children in PreK-12th grade across Arizona who are living with a disability and/or low-income hardships. Since 2015 we have partnered with 60+ schools throughout AZ. All scholarships are issued to qualified and verified students and schools.
When Can I Donate?
Donations are accepted on a first come, first served basis. We recommend all corporations make their commitments as soon as possible to ensure approval for the FY.
