Tax Credits

Individuals and corporations may claim a dollar-for-dollar credit against their Arizona state tax liability when they make a contribution to AISSF. Those contributions provide need-based scholarships for students attending our member schools.

 

Individual Tax Credits

 

SINGLE head of househould maximum credit: $1107


MARRIED filing separately maximum credit: $1107


MARRIED filing jointly maximum credit: $2213


Arizona offers two private school credits that allow Arizona tax payers to contribute funds for private school scholarships and then deduct their contribution, dollar-for-dollar, from their state tax obligation.

The maximum contribution for both credits is $2,213 for married couples filing jointly and $1,107 for single taxpayers (including those filing as head of household and married filing separately). Contributions made on or before April 15, 2019 are eligible for credit on your 2018 Arizona state tax return.


Low-Income Corporate Tax

Corporations with Arizona state tax obligation can redirect their corporate tax dollars to change children's lives through the low-income corporate tax credit. This credit allows eligible corporations to take a dollar-for-dollar credit for contributions made for scholarships to students from low-income families.

C-Corporations

C-corporations may contribute the total of their annual state income liability as long as the low-income corporate tax credit cap has not been met. Credits my be carried forward for up to five (5) years if a corporation contributes more than their tax liability in the year they donate.

 

S-Corporations

yoru donations help studnetsS-corporations may contribute the total of their annual state income liability as long as the low-income corporate tax credit cap has not been met. There is a minimum contribution amount of $5,000. Credits are passed on to the share holders proportionally. Credits may be carried forward for up to five (5) years if a corporation contributes more than their tax liability in the year they donate.

 

Contact us to find out how your corporation can partner with AISSF to make the future brighter for low-income students at our member schools.