The state of Arizona has five credits available that will reduce your state taxes, dollar for dollar. One of those credits is the public school tax credit. If you donate money to a public or charter school you will get this as a direct reduction of your 2017 tax liability for Arizona. If you are single you can donate up to $200 and if you are married you can donate up to $400 and get the credit on your Arizona return. If you make this donation you will also get to claim it as an itemized deduction on your Federal tax return. You cannot claim the credit on Arizona and also claim it as an itemized deduction for Arizona, however, if you donated more than the allowed amount for the credit ( $200 for single or $400 married) any excess can be claimed as an itemized deduction.
You can make your 2017 tax credit donation through April 15th or until the tax return is due. For example, April 15, 2018, falls on a Sunday and District of Columbia Emancipation Day will be observed on Monday, April 16, 2018. You have until Tuesday, April 17, 2018, to file your return and to make your charitable tax payment to an Arizona Public School. If you are itemizing on Federal this will not count towards your 2017 tax return, it will be applied to your 2018 tax return.
You do not need to have a child in school in order to claim the credit and you can donate to a number of different activities or programs to claim the public school tax credit. These would include the following areas:
- Extracurricular activities
- Character education programs
- Standardized testing fees for college credit or readiness offered by a widely recognized and accepted educational testing organization
- Preparation courses and materials for standardized testing
- The career and technical education industry certification assessment
- Cardiopulmonary resuscitation training pursuant to A.R.S. §15-718.01
For more information on the credit check out the link below.