As Arizona continues to be a national leader in providing parents with meaningful educational choices, we all have a new opportunity to contribute to the scholarship tax credit program, which provides money for students to attend private schools chosen by their parents. Every year, the program gives scholarships to around 25,000 kids, but many families are still waiting and hoping that this will be the year that they can choose the best school for them. (more…)
Center for Arizona Policy encourages Arizona taxpayers to consider four state income tax credits that help Arizona families. To take advantage of these credits, all you have to do is make a donation to a school tuition organization, a charity that serves low income citizens, and a public school district. Then, you can receive dollar-for-dollar credits on your state tax return for each of your donations.
Here is more information on each program:
Individual Tax Credits
l) Individual scholarship tax credit
Individuals may receive a tax credit of up to $503 and married couples may receive a credit of up to $1006 for donations to school tuition organizations (“STOs”). The STOs award scholarships to students whose parents have chosen to send them to a private school. Last year, this program provided over 25,000 scholarships to Arizona children.