Arizona Corporate Tax Credits - America's Scholarship Konnection

Arizona 100% Corporate Tax Credits for Low Income or Displaced/ Disabled Private School Tuition Scholarships

Corporate Tax Credit Donation Application

Application to redirect state tax liability from AZDOR to Americas Scholarship Konnection

Corporation Requesting to Donate *

Corporate Contact Person *

First

Last

Email *

Phone

Corporate Street Address *

Address Line 1

City

State

Zip Code

Corporate EIN *

Check box if this donation is from an S Corporation pursuant to A.R.S. § 43-1089.04

S Corp or LLC taxed as an SCorp

Name and EIN of parent S corporation if contributing company is a qualified subchapter S subsidiary

Check this box if the corporation pays insurance premium tax

Pays Insurance Premium Tax

NAIC Number (for insurance premium tax only

Amount the corporation is willing to donate

Dollar amount of the amount that the corporation is requesting a tax credit for

Choose One *

This donation is for the corporate tuition organization credits (A.RS.§ 43-1183 or A.RS.§ 20-224.06) OR
This donation is for the corporate disabled/displaced students credit (A.RS. § 43-1184 or A.RS. § 20-224.07

Copy your Accountant/ CFO ? Enter name here

First

Last

Accountant/ CFO Email for Copy of Application/ Approval/ Receipt

Comment or Message

Website

Arizona provides an opportunity for Corporations that are domiciled in AZ to redirect up to 100% of their AZ tax liability toward a School Tuition Organization like ASK to be distributed as scholarships for students in private K-12 education. This Tax Liability can be Income Tax or Insurance Premium Tax.

The Arizona Cap on the funds available for this program opens up July 1st, 2023, so time is of the essence because the cap typically closes very quickly. The Cap that Arizona has designated for low income families is $158 million +an additional $6 million designated for displaced/ disabled students, but we still expect the same or higher volume of participation as this is a very popular program for Corporations to utilize.

To summarize, Corporations may redirect up to 100% of their Corporate Income or Insurance Premium tax liability from the State of Arizona to a state licensed School Tuition Organization (STO) like America’s Scholarship Konnection (ASK) and receive a dollar for dollar tax credit.

The funds are distributed by ASK to families, in the form of scholarships for private K-12 education.

In order to qualify for these scholarships, the criteria is either:

A. Student’s family income cannot exceed 185% of the income required to qualify a child for reduced price lunches.

B.Disabled/ Displaced Student must meet ONE of the following prerequisites:

Student has a MET or IEP from an Arizona public school (for preschool and grades K-12);
Has a 504 plan from an Arizona public school (for grades K-12 only);
Was placed at one time in the Arizona foster care system (for grades K-12 only and will be verified with the Arizona Department of Economic Security)

Program Guidelines available at www.azdor.gov: Click on the "Tax Credits" link on left side of home page.
Submit the form online or send the completed form via email to: [email protected] or Fax upon request
Questions regarding the program can be directed to: Amy Luksza (623) 217-5005

Attention:
Failure to complete the form will result in a delay in the processing of the request, resulting in an extension of the twenty-day approval period and possibly being moved down in the line for credit requests.

Link to A.R.S. §20-224-06

Link to A.R.S. § 43-1183

Link to A.R.S. § 20-224-07

Link to A.R.S. § 43-1184

ARIZONA DEPARTMENT OF REVENUE Application for Approval of the Corporate Income Tax Credit for Donations to School Tuition Organizations (A.R.S. § 43-1183 or A.R.S. § 20-224.06) or Corporate Income Tax Credit for Disabled I Displaced Students (A.R.S. § 43-1184 or A.R.S. § 20-224.07)