ATTENTION BUSINESS OWNERS – THE CORPORATE TAX CREDIT CAP IS CLOSE TO DEPLETION!ATTENTION BUSINESS OWNERS – THE CORPORATE TAX CREDIT CAP IS CLOSE TO DEPLETION!ATTENTION BUSINESS OWNERS – THE CORPORATE TAX CREDIT CAP IS CLOSE TO DEPLETION!ATTENTION BUSINESS OWNERS – THE CORPORATE TAX CREDIT CAP IS CLOSE TO DEPLETION!
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Action Pages Are Live
December 1, 2021
IBE Featured School: Desert Christian School
March 9, 2022
December 15, 2021

ATTENTION BUSINESS OWNERS

THE CORPORATE TAX CREDIT CAP IS CLOSE TO DEPLETION!

I hope I have your attention because your opportunity to claim a dollar-for-dollar Corporate tax credit is almost gone until July of next year. The Arizona businesses eligible to take this credit are:

  • C-Corporations – up to business full state liability
  • S-Corporations – up to the full state liability of all shareholders personally
  • LLCs that file taxes as an S-Corporation -up to the full state liability of all shareholders personally
  • Most Insurance Companies - up to business full state liability

Each year Arizona puts a cap on how much funding Arizona businesses can donate while receiving a dollar-for-dollar tax credit.  This year, to help low income families, there was a total just over $135 million dollars available.  It is now less than $8 million and with so many businesses with a fiscal year ending in December, they are now claiming this credit quickly.  Your donation, which does not cost you anything as it is the same money you would use to pay your Arizona state taxes, will make a difference in so many Arizona children’s lives.  You can be the difference between them not able to excel in school or thriving.  You can recommend your tax credit donation to either IBE’s general fund  in order to help some of Arizona’s most vulnerable children throughout the entire state, of even a specific Arizona private school or schools.  Taking control of your Corporate state taxes will allow you to choose how those dollars are spent, while putting children first.

Please contact our team member in charge of Corporate Donor Relations, Lupita Rocha at lrocha@ibescholarships.org to learn more. 

 

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A.R.S 43 – 1603: 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.

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