Now, more than ever your corporate tax dollars are needed by Arizona children and private schools.Help your clients receive a dollar-for-dollar tax credit that will help children with their education. A simple one-page application is available through IBE with a coordinator dedicated to making the process simple and easy to navigate for accountants and corporate taxpayers. One minute of your time can make a huge difference in the lives of children and, also, help your client save on taxes and direct their tax dollars.In 2015, Arizona legislature passed a Bill that was signed by Governor Ducey allowing S-Corporations as well as LLCs that file taxes as an S-Corporation, to make a tax credit contribution to a qualified School Tuition Organization (STO) and receive a dollar-for-dollar tax credit. This tax credit flows through to the shareholders in a pro-rata share. This is the envy of many states.These tax credits are for S-Corporations, C-Corporations, and insurance companies that pay premium taxes in Arizona. The Corporate cap in Arizona is just over $128 million. The cap has been met in previous years in just minutes. Last year, while it took 3 rounds to award all funds, we expect it to be another year of the cap being met in minutes. For all three rounds of last year’s Corporate donation season, IBE had all their corporate donations accepted in the top 30% and were in the #1 spot in all three rounds. This year, all Corporate donation applications must be to your chosen STO by July 5th so they may be submitted by July 6th.
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