Tax Credit Questions and Answers

Is it easy to donate to Arizona Charter Academy and get a state tax credit?

Yes.  Choose the program of your preference, fill out the donation form for any amount up to $400 if you married filing joint or $200 if you are filing single.  Bring it or mail it to the school and a receipt will be given or mailed to you for tax purposes.  Don't forget the tax year ends December 31^st.

What type of activities can my donation support?

It can support extracurricular activities such as sports, music, drama, and student field trips, or the school's character education program.

How much can I donate per year as a tax credit?

Up to $400 can be contributed per married couple filing jointly.  If you are filing married/separate, you each can claim ½ the donation per year.  Single or widowed people can claim $200.

Is the tax credit really a dollar for dollar reduction of your state tax liability?

Yes.  By reducing your tax liability you will lower the amount of tax you will pay, giving you a dollar for dollar credit in your tax liability.  For example: 

If I do not have a tax liability this year, can I donate?

Yes.  You can carry forward your unused credit balance for up to five consecutive tax years.

Can I also get a deduction in my federal taxes?

Many times, yes, but everyone's taxes are different.  Please check with your tax advisor to be sure.

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.

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 public school in order to claim the credit.

Can I make more than one donation in any amount?  Does that count toward the donation?

Yes.  In addition, anytime you would like to add to the initial donation you can, by filling out a form at the school or mail it to the school.