Transform tomorrow for Arizona students.
Corporate Low-Income Tax Credit for Private Schools
At no net cost, your corporation can empower a new generation of leaders and innovators in our state. Through AISSF, you can provide scholarships to the best, independent private schools in Arizona for students with demonstrated financial need.
Corporations with Arizona state income tax or insurance premium tax obligation can redirect their corporate tax dollars through the low-income corporate tax credit. The net cost is zero, since this enables eligible corporations to take a dollar-for-dollar credit for contributions made to the program. In turn, the funds provide need-based scholarships for promising low-income students. Your participation can elevate both young lives and Arizona’s economic progress.
C-Corporations
C-corporations may contribute the total of their annual state income tax or insurance premium tax liability as long as the low-income corporate tax credit cap has not been met. 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.
S-Corporations
S-corporations may contribute the total of their annual state income tax or insurance premium tax 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 shareholders 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.
Timing for Corporate Tax Credit Contributions
You may submit an application at any time to make a corporate low-income tax credit contribution to AISSF. Applications are submitted by AISSF to The Arizona Department of Revenue for approval beginning in July and continuing until eligible funds for the fiscal year have been claimed.The annual corporate low-income cap is $135,000,000.
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. Complete and submit the corporate donor application online below or print out the application here.
Online Application