Arizona Education Tax Credit
Arizona offers its residents and select corporations to redirect a portion of their Arizona tax obligation in support of the financial aid program of their favorite independent school – PCDS.
There are two different Arizona Tax Credit programs— individual/family tax credits and corporate tax credits. Participants in each can receive a dollar-for-dollar credit against their Arizona state taxes.
Individual/Family Tax Credits
Arizona offers its residents and to redirect a portion of their Arizona tax obligation in support of the financial aid program of their favorite independent school – PCDS. Participants then receive a dollar-for-dollar credit against their 2017 Arizona income taxes.
While there are many educational tax credit foundations, PCDS directs its donors to support the Arizona Independent Schools Scholarship Foundation (AISSF).
- How much can I give?
- How does it work?
- What if I owe the state for the 2018 tax year?
- What if the state owes me a refund?
- Who can participate?
Make your 2018 Tax Credit contribution to PCDS through the Arizona Independent Schools Scholarship Foundation (AISSF) at www.aissf.org or by mail by April 15, 2019.
AISSF will send you a receipt for your contribution. Hold on to it.
When filing your 2018 taxes, complete Arizona Forms 323 and 348 to deduct the full amount of your contribution as a credit on your state tax return. To help you out, we will email you those forms when available by the state.
Corporate Tax Credits
Your company can fund scholarships for students who need them most at NO out-of-pocket cost to your corporation. By making a corporate tax credit contribution, companies can redirect the taxes they would otherwise pay to the state to fund scholarships for the most deserving and highest-need students to attend PCDS.
Each year, PCDS provides over 170 scholarships, thanks to the support of individual and corporate tax credit contributions. PCDS is committed to supporting each scholarship student’s entire PCDS career - whether they start in kindergarten or 9th grade.
- How does the corporate tax credit work?
- Does my company qualify?
- How does my company benefit from making a contribution?
- What’s the process to contribute?
- Is there a deadline for submitting a Corporate Tax Credit?
- Is there a limit to how much my company can contribute?
PCDS is a 501(c)(3) charitable organization and belongs to four different School Tuition Organizations (STOs), which raise money on behalf of PCDS and other member schools.
Companies can redirect their taxes to one STO (or more than one), which distributes funds for scholarships for need-based students to attend PCDS and other private schools. The Corporate Tax Credit program is not about financial donations. In fact, making a contribution to an STO costs a corporation nothing; it is a virtually free opportunity for a company to redirect its tax dollars to students instead of paying them to the state.
First, you will know that your company is giving a lifelong gift of education by funding need-based scholarships that open doors that might never have been opened. In addition, PCDS works with each corporation to best meet its needs. Some corporations enjoy being named in promotional materials while other corporations wish to remain anonymous; we honor all contributions and contributors, public and anonymous.
Step 2: Katie Charles will then complete the AZ Dept. of Revenue (ADOR) approval request form.
Step 3: ADOR approves or denies request within 20 days.
Step 4: Katie Charles must receive corporate (corporations) contribution within 20 days of approval.
Step 5: CLAIM THE TAX CREDIT!
While the deadline for submission for approval from the AZ Dept. of Revenue starts on July 1, 2018, the state will continue to approve corporate contributions until the cap is met. For the 2018-19 Fiscal Year (July 1, 2018 - June 30, 2019) the statewide cap is $89.1M.
Because the cap is typically met quickly, PCDS works with the corporations months ahead of time to line up submissions for approval from the AZ Dept. of Revenue starting July 1, 2018 — it is a first come, first serve basis.
For more information, please contact Katie Charles, Director of Annual Giving & Stewardship.
"PCDS is the height of education in the Valley, and we are very proud to help contribute to the education of its students. Donating is easy; caring for children and growing young minds takes real heart. PCDS’s amazing team accomplishes this every day." – Brown & Brown Insurance
Corporate Tax Credit Donors to PCDS