Tax Credit Donations
INDIVIDUAL TAX CREDIT DONATIONS
Through the Arizona Private School Tax Credit Program, any individual with Arizona state income tax liability can get a tax credit by making a donation to a Scholarship Tuition Organization (STO). The STO will then provide a direct scholarship to a student at Grace Christian Academy.
What is a Tax Credit?
A tax credit is money that taxpayers receive back dollar-for-dollar from the state for their donation, which goes against what they would otherwise owe as a state tax payment.
How Much Can I Donate?
The maximum donation that can receive a tax credit is either the amount set by the Arizona Legislature each year, or your total tax liability, whichever is less. If you donate more than your total liability, Arizona law allows you to carry the excess credit (up to the maximum) forward for use in up to five consecutive future tax years.
To find out more about the this year’s maximum donation amounts, how tax credits work, and make a donation, please click on the ACSTO logo below.
CORPORATE TAX CREDIT DONATIONS
Support education at Grace Christian Academy without affecting your company’s bottom line! If you own a business that is a C Corp, S Corp, an LLC that files like an S Corp, or an Insurance Company that pays Arizona Premium Tax, you can receive a 100% credit against your Arizona corporate tax liability when you donate to the Corporate Tax Credit programs.
Arizona has two Corporate Tuition Tax Credits: Low-Income, and Disabled/Displaced. Unlike the individual tax credit program, the Corporate tax credit program has no individual donor limit; however, there is yearly statewide maximum for donations to both programs for all donors combined. Because of the statewide caps, all donations must go through an approval process by the Arizona Department of Revenue, which is coordinated through STOs. The statewide cap opens the first week of July each year. Please contact School Choice Arizona at 480-722-7502 or visit SchoolChoiceArizona.org to see the current year’s caps and find out more about donating to help Grace Christian Academy students.