Arizona’s Tax Credit Programs
These Arizona tax credit programs are education plans designed to help low income families and families with disabled/displaced children obtain the best education for their children.
• Under these programs (A.R.S. 43-1183), Class C Corporations, Insurance Carriers, S Corporations and certain LLC’s that owe Arizona corporate income tax or insurance premium taxes can redirect a portion, or their entire tax obligation to school tuition organizations (such as the Arizona Leadership Foundation.)
• These school tuition organizations then award K-12 scholarships to students qualifying for the low income or the disabled/displaced program.
• Participating corporations redirect funds they must already pay to the state, enabling them to help low-income children achieve greater educational excellence at NO COST to the corporation.
As a result, the program is paving the way for an educated workforce that will greatly contribute to the betterment of our communities.
The Simple Process
Program Cap and Fund Designations for the Fiscal Year 2024, School Year 2023-24
Low-Income Tax Credit Scholarship Program | $158 Million |
Disabled/Displaced Tax Credit Scholarship Program | $6 Million |
The above information does not constitute tax advice. Please consult with your tax professional.