CHILD TAX CREDIT PHOENIX

Since 1998, Catholic Education Arizona Arizona education tax credit has awarded more tuition scholarships than any other school tuition organization in the state of Arizona. Visit the Catholic Education Arizona website at https://catholiceducationarizona.org/ to learn more today! They’ve graduated over 153,000 scholarships totaling in excess of $338 million dollars to students in need of tuition assistance to attend one of 38 schools in the Diocese of Phoenix. The funding the schools receive is from Arizona’s Private Education Tax Credit legislation that was passed in 1997. This law allows individuals the option to direct their tax catholic charities Phoenix liability to tuition scholarships, and in 2006, the Low-Income Corporate Tax Credit legislation was passed offering the tax credit to Arizona corporations as well. Arizona was the first state in the nation to adopt this legislation and to date, 20 states have followed their lead by passing some form of tax credit legislation. Visit the Catholic Education Arizona website to learn more today!

Now that you know more about Catholic Education Arizona, let’s talk about the Arizona Education Tax Credit in 2024. If you are looking for an opportunity to help your children, family or friends get a great education, we encourage you to take Arizona tuition tax credit advantage of Arizona education tax credit 2024. The program allows Arizona taxpayers to make donations to School Tuition Organizations (STO) and receive a dollar-for-dollar reduction in the state taxes that they are liable for at tax time. In the case of a refund, the amount of the credits is carried forward to subsequent years. The Arizona State Income Tax Credit for Contributions to School Tuition Organizations (Arizona Tax Credit) allows individuals to donate money to nonprofit organizations that support private school tuition scholarships for students in need. The tax credit can be used to offset a person’s Arizona tax liability, and unused credits can be carried forward to the following five years.

Donors must claim the credit by filing their Arizona income tax returns. To participate in the credit, you must donate to a STO certified by the State of Arizona. If you have any questions about this program, we recommend you speak with a tax professional. The Individual tax credit is up to $1,459 for married couples filing jointly or $731 for singles. If you are a first-time donor, you must fill out an online application before making your donation. Homeschool families must submit documentation with their online application as well. If you would like to learn more about this exciting program, check out our Arizona Education Tax Credit Overview page. It contains everything you need to know about the program, including eligibility, funding, regulations and legal history.

Arizona is famous for its school choice programs, but the amount of money flowing into and out of one of its most popular programs fell last year for the first time since the Great Recession. If this is the beginning of a trend, it could dramatically shrink this marquee program. The decline may be caused by competition from another school choice program that offers a similar incentive for donors. To keep this program thriving, supporters of both programs must work together to reach as many families as possible. To do this, they need to understand each other’s incentives. Now that you know more about the Arizona Education Tax Credit in 2024, it is time to go back to the website of Catholic Education Arizona to find out more today!