School Tax Credit
Redirecting your tax dollars into something that matters to you. Make a contribution up to $400 (married couple, filing taxes jointly or $200 for an individual) and receive a dollar-for-dollar reduction in your tax liability on your Arizona State Tax Return. Make a School Tax Credit donation to FALA and get credit for your tax credit donation in this tax year. Make sure to indicate below where you want your School Tax Credit donation to go.You can also download this flyer and mail it in to our office.
What is the School Tax Credit?
The Arizona Revised Statute (ARS) 43-1089.01 allows Arizona taxpayers to direct their tax dollars toward public schools in Arizona. Your tax credit donation is a credit allowed against your taxes. Your donations can go to an Arizona public school for the support of extracurricular activities or character education programs. Additionally, these tax credit donations can be used to purchase science equipment for after school clubs.
Basically, making a school tax credit donation is really just redirecting your tax dollars into something that matters to you.
Why Donate to FALA?
Funding from the state covers only basic costs of instruction. We count on you and the generosity of the rest of the community to meet the financial needs of our many activities and programs. As you know, FALA is unique and offers many unique opportunities to the students who attend. Your support makes sure that we can continue to offer the best education possible along with additional opportunities that enable our students to become leaders in their communities.
How many times may I make a School Tax Credit donation?
You can either make one lump sum donation (up to $200 single tax filer, $400 married couple filing jointly) or you can make installments throughout the tax year. If your school tax credit donation is in an amount greater than your current tax liability, you can carry forward unused amounts for up to five consecutive taxable years.
FALA makes it so easy to contribute. We can even set up automatic, equal debits to your checking account. To set this up, download this form and return it to FALA's Office Manager, Cher Dunham.
Do I have to have a child in an Arizona school in order to take advantage of the AZ School Tax Credit?
No. Any AZ taxpayer can utilize the school tax credit for the benefit of any Arizona public school. FALA appreciates your tax credit donation!
Can Student Fees be Applied Toward the School Tax Credit?
No. The ARS 43-1089.01 clearly states for what purposes school tax credits can be used.
What Programs Will be Benefitted by My School Tax Credit?
Our Service Learning Program, combined with our Advisory Program, is designed as a Character Education Program. Your generous donation will help us to purchase supplies so that FALA students can make the most of their experiences here. A few of the character traits that this program teaches and enforces are: Responsibility, Diligence, Respect, Fairness, Caring, Citizenship, and Integrity - in other words, traits that will carry FALA students through their lives and help to shape them into leaders in their communities.
After School Science Program - with your generous donations, we can make sure that our students have access to up-to-date science equipment that will ensure a quality education and equip all students to succeed in college and beyond.
Extracurricular Programs - you may direct your donation toward your, or another student's, academically supported field trips and competitive events. Your donation makes sure that every student has the opportunity to take advantage of school-sponsored trips that enhance the learning going on in FALA's classrooms.
How Do I Claim the School Tax Credit?
Complete the attached form and return it with your donation to FALA. A receipt and an AZ Form 322 will be sent to you to complete and submit with your taxes.
Can I Claim the School Tax Credit on my Federal Income Taxes?
In some cases, yes, the school tax credit may count as a charitable contribution. To be sure about your individual situation, consult your tax professional.
I Still Don't Get it.
Please contact a tax preparation professional with specific questions regarding your tax situation.