No-out-of-pocket-cost! Allocate up to 100% of your corporate income tax liability, receive a dollar-for-dollar tax credit, AND provide scholarships for qualified Arizona K-12 private school students!
Arizona Corporate Income Tax Credit Available in 2 categories:
Low-Income Cap: $123,042,188 & Disabled/ Displaced Cap: $5,000,000
Corporate Tax Credit
Arizona Corporate Tax Credit Program (A.R.S. 43-1183 & A.R.S. 43-1184)
There is a clear and strong correlation between the educational attainment of a workforce and their median wages. Better education and training fuel innovation, investment, and economic diversification. Providing expanded access to high-quality education will not only expand economic opportunities but also likely do more to strengthen the overall economy than anything else. By making that investment, you ensure a robust workforce that has the ability to help your business flourish and grow well into the future by redirecting your tax dollars back into your community.
Eligible Arizona businesses to receive a dollar-for-dollar tax credit:
- S-Corps & LLCs that file as an S-Corp
- Insurance Companies that pay premium taxes in Arizona
Corporate Tax Credit Scholarship Programs:
- Low-Income Corporate Tax Credit Program, enacted in 2006
- Disabled/Displaced Corporate Tax Credit Program, enacted in 2009
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
- Receive a dollar-for-dollar tax credit
- Provide scholarships for eligible K-12 Arizona private school students
- STO4KIDZ in-turn awards a minimum 90% of every dollar in scholarships to eligible AZ private school students within the same school calendar year.
- You may also qualify to claim your redirected tax contribution on your federal taxes as a donation to STO4KIDZ, a 501c3 non-profit charitable organization. (Please consult your tax advisor)
How to proceed:
- Determine your business tax liability for the current year.
- Complete and submit your non-binding application (online or printable) to STO4KIDZ.
- STO4KIDZ will prepare and submit your application to the Arizona Department of Revenue (ADOR).
- The same day our office receives your approval notification from ADOR, we will contact you with detailed information.
- Within 20 days you will fund STO4KIDZ in order to preserve your tax credit for the fiscal year 2020.
Please call Miriam Antolik with any question at 602.698.8855