Pursuant to A.R.S. 43-1183, C corporations, S corporations, LLCs filing as S corporations and insurance companies are eligible to take the dollar-for-dollar Arizona Private School Tuition tax credit when they support Student Tuition Organizations (STOs). STOs provide scholarships for students entering private schools. To qualify for the corporate dollars, students must be eligible for the reduced lunch program and other guidelines set down by the state.
The Jewish Tuition Organization (JTO) is an STO and a 501(c)(3) charitable organization. Our goal is to ensure that no child misses out on a Jewish day school education because of the cost. Thanks to the Arizona Private School Tax Credit, you can take the credit and help us provide scholarships to local Arizona students in need of a quality Jewish day school education.
Benefits of the Corporate Tuition Tax Credit
- Gain recognition for your company by becoming a community partner in education using your tax dollars.
- There is not a dollar limit to the amount a corporation can contribute to the corporate tuition tax credit. It all depends on the total corporate tax credit dollars available for the year.
- At least 90% of the money collected must be distributed in the form of scholarships.
- You can help support a child’s future at absolutely no cost to you.
If you’re interested in taking the corporate tax credit, contact the JTO at 480.634.4926 or firstname.lastname@example.org. We can also work with you to set up matching grants and JTO payroll deductions.
Visit the Arizona Department of Revenue for more information about state tax credits.
IRA Charitable Rollovers
Congress voted in December to reinstate the IRA Charitable Rollover for 2015. This legislation allows donors age 70 1/2 and older to transfer up to $100,000 of IRA or Roth IRA assets to a charity. It will not trigger federal income taxes today or estate taxes in the future. If married, each spouse is eligible for the tax-free IRA transfer. Donors can also donate $100,000 beginning in January!
To apply, the transfer must be made by December 31, 2018.
Please consider making a transfer directly from your IRA as a gift to the Jewish Tuition Organization or to create an endowed gift. IRA charitable rollovers are not eligible for the Arizona dollar-for-dollar tax credits, but they are charitable donations. To make the transfer, please contact your IRA provider to get instructions. In addition, please notify us at 480.634.4926 so we know the transaction is in process. To endow your gift, please contact the Jewish Tuition Organization for more information at 480.634.4926 or email email@example.com.