How does the tax credit work?
A taxpayer making a contribution to Georgia Tax Credit Scholarship Program receives an income tax credit against their Georgia income taxes for their contribution. For example, if a corporation owes $100,000 in Georgia income taxes, they can make a contribution of up to 75% or $75,000 to Georgia Tax Credit Scholarship Program and receive a tax credit for the contribution.
Why do major corporations choose to partner with us?
There are more than 30 student scholarship organizations in Georgia but they are not all the same. Learn why major corporations choose to partner with us. Simply complete the form below.
What is the maximum amount of Georgia income taxes that a corporation can redirect each year to Georgia Tax Credit Scholarship Program Inc.?
Each calendar year, as long as there is room available under the annual cap on tax credits corporations can redirect up to 75% of their Georgia income liability and receive a tax credit for the amount redirected.
If I over pay on my Georgia Income Tax and have made a contribution, will I receive a refund?
Yes, as long as your Georgia tax liability is greater than the contribution amount.
What is the deadline for making contributions that qualify for the tax credit?
Upon approval, the contributor must make the contribution within 60 days of the approval notice from the Georgia Department of Revenue or by December 31st, whichever comes first. All contributions must be made in the same calendar year during which they are approved to receive a tax credit for that year.
How do I find more information about the Georgia Tax Credit Scholarship Program?
If you have questions about the Georgia Tax Credit Scholarship Program, please email or call our office. See contact page for details.