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 Receive a dollar-for-dollar tax credit Provide scholarships for eligible K-12…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
Can my contribution be eligible for a federal income tax reduction as well?
STO4KIDZ is a 501(c)(3) non-profit, charitable organization. You should consult your tax advisor for your specific tax question. We sincerely welcome and appreciate your support and participation in this…Read More
Will I receive a receipt?
Yes. STO4KIDZ is a tax-exempt charitable organization pursuant to federal law, Section 501(c)(3). Federal I.D. Number 82-4886421 An official tax receipt will be emailed to your provided email address. If…Read More
How much of my tax contribution is used for tuition award?
A minimum 90% of your contribution is used for scholarship award on a monthly basis.Read More
May I recommend a student for tuition award(s)?
Yes! You may recommend anyone who is not your child or dependent. STO4KIDZ selection committee retains discretion regarding all awards. If you have no student preference, you have the option…Read More
How do I claim the tax credit on my personal contribution?
When you are filing your taxes, you can claim the tax credit by using the Arizona forms 301 and 323 along with state income tax forms. However, if you contribute to the…Read More
How much can I contribute?
You can contribute up to the combined maximum of the Original ARS 43-1089 and the Switcher ARS 43-1089.03, or your Arizona tax liability, whichever is less, and receive a dollar-for-dollar…Read More