*Give kids the extra credit* You can help students have the greatest success by giving them the opportunity to participate in the "extra" - in extra curricular activities. Your donation is a dollar for dollar tax credit. Its a great way to support the school of your choice through the Arizona tax credit program. This credit allows an Arizona taxpayer to contribute $200 per individual tax return or $400 per joint tax return to a school’s extra curricular program or character education program. Contributions are to the school of your choice. Please consider Discover U when making your tax credit contribution.
Commonly Asked Questions: 1. Do I have to have children enrolled in school? No. Any Arizona individual paying state income tax can make a tax credit contribution. Parents, Grandparents, Aunts, Uncles, Etc....
2. How does this work on my tax return? When you file your state taxes, you will record the tax credit contribution on Form 322 (downloadable from the State.) As an example,if you make a $400 tax credit contribution and you calculate a state tax refund, applying the credit will increase your refund by $400. If you calculate a liability, applying the credit will reduce your liability. However, you cannot receive a refund greater than your State income tax assessment for the tax year.
3. Do I have to donate the full $200 for individual or $400 for joint tax donation? No, you can donate any amount up to $200 for individual tax filers and $400 for married filing a joint return. So if you donate $50 or $100 toward the Arizona Tax Credit to Discover U you can apply this to Form 322 for your state taxes and have it applied as stated above.
4. Who can make an Arizona Tax Donation? Tax donations can be accepted only from individuals filing returns, not businesses.
5. How do I make an Arizona Tax Donation? You can download the on-line form and mail in your Tax Donation or drop it off at the school office. All contributions must be dated and turned in on or before 12/31/2013, to be credited to your 2013 Income Tax. The downloadable form must be completely filled in to guarantee credit for your tax donation. OR YOU CAN DONATE ONLINE NOW BY SUBMITTING YOUR PAYMENT ABOVE. REMEMBER, this is a DIRECT CREDIT – which means you will get this money right back when filing for your personal income tax return (if you owe taxes to the state, your contribution will be deducted from that amount).