Corporate Tax Allocation Process ,Timeline, and Tax forms to Claim Your Tax Credit
1. Determine your business tax liability and how much to would like to allocate for scholarships vs paying to the state for the current year. 2. Complete and submit your…Read More
Who will benefit from Corporate Tax Credit?
K-12 Students with a demonstrated financial need Pre-K–12 Students with Disabilities Kindergarten Students with a demonstrated financial need US Armed Forces Dependents Foster Children Students Transferring from a Public or…Read More
Can a corporation contribute after the end of its fiscal year and still claim the credit on its prior fiscal year tax return?
No. Corporations can only claim their contribution in the tax year in which the contribution is made (plus, five years for carry forward purposes). The law allows your corporation to…Read More
Who can participate in the corporate tax credit program? How does it work?
C-Corporations S-Corporations & LLCs that file as an S-Corp Insurance Companies that pay premium taxes in Arizona C-Corporations can allocate up to 100% of their state income tax liabilities for…Read More
Why Allocate Corporate Tax Dollars to STO4KIDZ?
No out-of-pocket cost to you or your corporation Can allocate up to 100% of your corporate state income tax liabilities towards eduction Receive a dollar-for-dollar tax credit Provide scholarships for…Read More
What is the Corporate Tax Credit ?
In 2006 and then in 2008, the Arizona State Legislature passed into law the Corporate Income Tax Credit and then the Disabled/Displaced Corporate Income Tax Credit (A.R.S. §20-224.06 and §…Read More