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What is the maximum dollar amount available for this credit?
A.R.S. 43-1089 allows a tax credit of $200 for individuals and $400 for married couples filing jointly, for fees or donations paid to a school in support of extracurricular activities.
Does it have to be $400?
The amount of the tax credit does not have to be for the total allowable amount of $400. You may donate any amount, up to the $200 or $400 limit, in installments during the calendar year or donate it at one time.
Where does the money go?
You may indicate which school and which program you would like to support or you can designate your money to be given to the school(s) with the greatest need. The credit also may be split between one or more schools.
When is the tax credit available?
The tax credit is available for taxable year beginning January 1. Contributions must be received by December 31st to qualify for that year's tax return.
Must I have a child in school to claim this credit?
No. There is no requirement that the taxpayer have a child enrolled in a school in order to claim the credit. Donations or contributions made in support of extracurricular activities at a school which require a fee are eligible for the tax credit, up to the maximum as stated above.
What public schools and grades are eligible for the credit?
All public schools that provide instruction in grades K-12 are eligible for the credit. Non-governmental schools, community colleges and universities do not qualify for the credit.
Can I receive a refund of these credits?
The credits may only be used to the extent that they reduce State tax liability to zero.
I made some eligible contributions before I knew about the new law. Can I still claim this contribution?
Yes; however, you will need a receipt. Please call or visit the school office to obtain a receipt. You may be asked to provide documentation, such as a canceled check, for your contribution.