Individual Tuition Tax Credits
One of the ways the State of Arizona supports school choice is with the Private School Tuition Tax Credit program. A.R.S. AZ 43-1089.01 provides a credit against state income tax obligations for Arizona taxpayers who make a contribution to a qualified School Tuition Organization. Since 1998, the Arizona Independent Schools Scholarship Foundation (AISSF) has given many deserving students the opportunity to attend Green Fields School by awarding financial aid scholarships.
There are two individual tax credits available to support qualified students at Green Fields.
Arizona taxpayers who have contributed the maximum amount to the 1st/Original tax credit program can get even more tax credit by contributing to the 2nd/Switcher tax credit program.
Arizona taxpayers who make a contribution to AISSF receive a tax credit against state income tax obligations. This contribution will be credited dollar for dollar against your Arizona income tax.
Corporate Tax Credits
In Arizona, ther is an opportunity for both C and S corporations to support education. Green Fields is exceptional due largely to its independence. We are independent from the requirements and limitations of public education and can set our class sizes small and address individual student needs. Being independent means we rely on tuition to operate. All young people could benefit from this kind of attention and for some it's critical. However, not everyone can afford the kind of tuition we require to operate. That's where corporations can step in for some significant support.
Who can contribute?
Arizona C Corporations and S Corporations with Arizona tax obligation. This credit allows eligible corporations to take a dollar-for-dollar credit on their taxes. Contributions made by corporations to the Corporate Tax Credit are awarded as scholarships to students from low-income families attending independent schools -- such as Green Fields School. Just as the individual tax credit above, Green Fields partners together with AISSF to collect and distribute corporate tax credit contributions as scholarships.
C Corporations may contribute the total of their annual state income liability as long as the low-income corporate tax credit cap has not been met. Credits may be carried forward for up to (5) years if a corporation contributes more than than tax liability in the year they donate.
S Corporations may contribute the total of their annual state income liability as long as the low-income corporate tax credit cap has not been met. There is a minimum contribution amount of $5,000. Credits are passed on to the shareholders proportionally. Credits may be carried forward for up to (5) years if a corporation contributes more than than tax liability in the year they donate.
*A School tuition organization cannot award, restrict, or reserve scholarships solely on the basis of a 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.