Arizona law (A.R.S. 43-1089.01) allows taxpayers to receive a tax credit of up to $200 for a single individual or a head of household and $400 for a married couple filing a joint return for donations that benefit students in our public schools. That's not just a deduction, it's a tax credit - it reduces what you owe in state taxes, dollar-for-dollar donations that benefit students in our public schools.
Here's how it works:
Just send your donation along with this tax credit form to the North Canyon High School Bookstore. Be sure to notate that you want your donation to benefit the NCHS Choir. Once your donation is received, you will be sent a tax credit receipt for your records. Then, when you fill out your 2011 Arizona state taxes, you can subtract your donation - up to $400 - from what you owe in taxes. Donations can also be made in person at the NCHS Bookstore.
Employer Matching Grant Programs:
Intel, Motorola, Wells Fargo, Bank of America, and Honeywell have offered employee matching grant programs. Check with your employer to find out the specifics of their grant program.
Most activities in our choir program qualify for a tax credit, including money for choir trips and the $100.00 Activity Fee.
Must a taxpayer have a child enrolled in a public school to claim the tax credit?
Parents, as well as taxpayers who do not have a child enrolled in a public school, are eligible for the tax credit, which is not the same as a deduction on your income tax form. As an example, if you owe $1,000 in state income taxes and you donate $400 to a public school for extra-curricular activities, you may subtract the $400 from your tax bill and pay the state only $600. If you are anticipating a refund, it may be up to $400 higher than you have projected.
For more specific information on tax credits, be sure to check with your tax professional.