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Arizona is leading the nation with tuition tax credit opportunities for
individuals and corporations. In 2006 a Corporate Tuition Tax Credit law was 
passed by the Arizona Legislature. Businesses that pay state taxes and want to
help low income children receive a quality education, can receive a
dollar-for-dollar credit for its contribution. It is so easy and won't cost the
company one thin dime!
Here's how it works:
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Any corporation that files an Arizona corporate income tax return may apply.
This includes all "C" Corporations that have Arizona tax liability and some "S"
Corporations if they file an Arizona corporate tax return.
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The corporation contacts the Arizona School Choice Trust and pledges to make a
contribution of its desired dollar amount.
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ASCT makes application for that amount to the Arizona Department of Revenue
(ADOR).
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If the $12 million (second year) cap has not been met, ADOR approves the
request within 20 days.
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The corporation has 10 days from approval by the ADOR to make the contribution.
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The corporation may not designate its contribution to any specific student or
students.
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The corporation takes the credit on its next tax return, but may carry any
unused credit forward for up to five years.
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The corporation may take either the federal deduction or the Arizona state
credit, but not both.
If you are interested in making a contribution or have questions,
please contact us at 623-414-3429!
For more information: *
CORPORATE:
 Fact sheet for corporations
http://www.azdor.gov/Refunds%20and%20Credits/corporatechoicesmenu.htm
http://www.azleg.state.az.us/ars/43/01183.doc
STOs
http://www.azdor.gov/ResearchStats/Schooltaxcredit.htm
Private Schools
http://www.privateschoolreview.com/state_private_schools/stateid/AZ
* This material is for informational purposes only. Prospective contributors should seek professional advice to determine eligibility and tax consequences.
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