What would you say if you were given the opportunity to donate up to $400 to your child’s charter school, $200.00 for a person filing single, to be used for extracurricular fees, and receive the entire amount back? Arizona tax law allows you to do just that!
Arizona tax law (ARS 43-1089.01) gives taxpayers a tax credit of up to $400, per calendar year, if they contribute to extracurricular activities in public or charter schools. What is a tax credit? This is an actual credit against income tax imposed upon the individual. In other words, if your imposed Arizona state income tax is $500, the amount owed could be cut by as much as $400. On the other hand, if you were due a refund of $100, you would receive $400.
The amount of money contributed (up to $400 dollars a family) is subtracted from the amount of taxes you owe, or added to your refund. A tax credit is a full refund of your money.
Contributions that are eligible for a tax credit are donated directly to the public or charter schools specified by the donor. How do you take advantage of this opportunity? It’s easy.
Just go to your school office and write out a check made out to the school or contact the school and we can send you an invoice with a payment link. GEM Charter School will keep track of all of your payments and issue a receipt following your last payment. If it is more convenient, you can fill out the form at the top of the page and mail it with your check directly to the school.