This tax credit was established in 2006 with the primary purpose of assisting students of families with low to moderate income switching from a public school to a private school. Corporate contributions can be accepted in accordance with the provisions of A.R.S. 43-1183. The corporate tax credits are available only to corporate taxpayers, corporate partners, exempt organizations subject to corporate income tax on unrelated business taxable income (UBTI), or S corporation individual shareholders.
The corporation can take the full state tax credit, but must check with it's accountant for the federal deduction amount. The donation must be mailed (postmarked) before the corporations year end. A corporation may not recommend a specific student, but it may recommend a qualified private school. The STO will review all qualified student applications and issue scholarships based on need and availability of funds.
Control where your tax dollars go.
Allowance available July 1
Low-Income Corporate $74.300 million
Disabled/Displaced Corporate $5 million
YES Fund for Kids