What exactly is the Arizona State Tax Credit?
Arizona Law (ARS 43-1089) allows you to make an individual charitable contribution (such as TOPS for Kids) by redirecting your state of Arizona tax liability on a dollar for dollar basis.
This is not a tax deduction, which lowers your income level, with a tax credit you are redirecting where your money goes.
How much can I give?
For 2015 the amounts are:
Maximum for Married/Filing Jointly
$2,134.00 ($1070 in the Original program and the overflow in the PLUS “Switcher” of $1064)
Maximum for Single/Head of Household
$1,067.00 ($535 in the Original program and the overflow in the PLUS “Switcher” of $532) in 2015
Who Can Contribute?
Any Arizona Taxpayer single or married
May I designate my payment to a specific student?
Donors may recommend a student, but actual scholarships are subject to the absolute discretion of our STO, TOPS for Kids. Scholarships will be awarded without regard to the student’s race, color, handicap, familial status or national origin. Scholarships are used for K-12 students attending private schools in Arizona.