Individuals may receive a tax credit for donations to school tuition organizations (“STOs”). The STOs award scholarships to students whose parents have chosen to send them to a private school. Last year, this program provided over 25,000 scholarships to Arizona children. The switcher additional tax credit program was enacted in 2012.
Your HR department or Payroll processing company will need these forms completed in order to enact your request to have your AZ tax liability redirected to America’s Scholarship Konnection for a dollar for dollar tax credit.
More families can be helped, that need scholarships to enable them to have Educational Choice.
Arizona Revised Statutes §43-401 (G) provides that an employee may request that his or her employer reduce his or her withholding in an amount equal to income tax credit(s) the employee will qualify for when filing his or her income tax return.
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