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ABOUT THE PROGRAM
The Arizona Department of Revenue has issued
guidelines for a $200 tax credit, $300 for joint filers
for Tax Year 2005 and $400 for Tax Year 2006, to be
applied against the ndividual’s State of Arizona
Income Taxes (A.R.S. §43-1089.01). A tax credit –
which is the dollar-for-dollar reduction of your tax
liability – is better than a tax deduction, which only
reduces your taxable income before taxes are
computed. PLEASE CONSULT YOUR TAX
ADVISOR REGARDING YOUR SPECIFIC TAX
STATUS.
You Need Not Be A Parent
The tax credit is available to all taxpayers, egardless
of whether they have hildren in school.
REMEMBER, ANY CONTRIBUTION
FROM $200, UP TO $300* TAX YEAR
2005 AND $400 TAX YEAR 2006 IS
WELCOMED.
It’s This Easy
If you want to support one or more of the programs
listed on the response form, simply write a check to
the school or schools of your choice. Mail the check
or deliver it to the school with your completed
response form. The district staff will provide you
with a receipt verifying that you have contributed to
an eligible extracurricular activity. Next Spring,
simply claim your tax credit up to the allowable
amount on the appropriate tax forms (i.e., Arizona
Forms 301 and 322).
*Know The Difference
Contributions to public schools have always
been tax deductible. A tax deduction allows
you to subtract the amount of a contribution
for the amount of your taxable income. The
new law allows a tax credit, whichis subtracted
from the amount of tax liability.