Corporate Donations

Donor Information Form updated 11-10.doc
Microsoft Word document [63.5 KB]

Eligibility

For a Corporation to be eligible it must pay corporate state income tax. This means that “C” Corporations are eligible, but not LLCs or most Subchapter S businesses. The corporation needs to have the cash flow to make the donation. They may only donate as much as they will be paying in actual tax to the state of Arizona.
If the S-Corp files its tax on a 120 Corporte Income Tax Return, then it can donate money to recieve a credit.
The donating corporation is eligible to receive a 100% dollar for dollar credit against the amount donated. If the tax credit exceeds the taxes due for 2010, they can claim the remaining credit against next year’s taxes (and up to five years after the donation was made.)

Thank you for your Donation!

Please contact me with any questions you have.

Michelle

Office Administrator

Phone: 480 722-7502

Email:

Call: 480-722-7502

Fax: 480-820-2027

Statewide Cap for

Corporate tuition tax credit

is $24,912 million

Statewide Cap for

Corporate Disabled/Displaced students

tax credit is $5 million.

A School Tuition Organization cannot award, restrict, or reserve scholarships solely on the basis of donor recommendation.

A taxpayer may not claim a tax credit if the taxpayer agrees to swap donations with another taxpayer to benefit either taxpayer's own dependent.