What is the Arizona Extracurricular Activities Tax Credit Program?
Arizona Revised Statute §43-1089.01 allows each individual state taxpayer to contribute up to $200 per year to public schools in support of extracurricular activities and claim a dollar-for-dollar state tax credit. Married couples filing joint tax returns may contribute and claim a tax credit of up to $400 per year ($200 per person). Those who are married and filing separately, as well as single taxpayers, each qualify for a $200 maximum state tax credit.
What is a tax credit?
A tax credit will allow you to reduce the amount of your tax liability to the state. The amount you contribute (up to $200 for single taxpayers or $400 for married couples filing jointly) will be the amount you may claim as a state tax credit.
What is the difference between a tax credit and a tax deduction?
A tax credit is a dollar-for-dollar reduction in the actual tax owed. A tax deduction only reduces the total taxable income from which the tax owed is calculated.
Who can make a contribution?
Only Arizona residents who file an AZ140 tax form are eligible for the tax credit. Schools can accept contributions from non-Arizona residents as well as businesses and corporations; however, they are not eligible for the tax credit.
Step by Step Process
Step 1: Click Link Below
Step 2: Choose “Eastmark High School” from school drop down menu.
Step 3: Choose “TC- BOYS BASKETBALL TEAM” from tax credit drop down.
Step 4: Enter in amount you wish to donate and enter the players name (if known).
Step 5: Click on “Buy” (blue button).
