In 2008, the Qualified Education Expense Tax Credit law was passed by the Georgia General Assembly, and has been amended to allow up to $58 million dollars per year in state taxes to be allocated to private education through Student Scholarship Organizations (SSOs). By applying for this credit and making a donation to our partner, the Georgia GOAL Scholarship Program, a state-approved SSO, you will be re-directing your state tax dollars directly to Providence Classical Christian School. These funds can then be used to provide scholarships to eligible students.
How this helps you, the school, and the children. You are already paying income taxes to the state. Why not redirect some of those taxes to provide Georgia children with a Christian education? When you redirect your Georgia income taxes to GOAL, you can designate that the contribution be used to provide scholarships at Providence Classical Christian School. Thus, Providence is able to:
- increase the financial aid that it can offer new students,
- increase school enrollment, and
- increase the funds available to improve educational offerings.
In addition to receiving the full amount back as a state tax credit, your contribution may also be utilized as a 501(c)3 charitable contribution deduction on your federal income tax return.
What is the maximum amount I can contribute?
- A married couple filing a joint return can re-direct up to $2,500 of their income tax payments to GOAL.
- A married couple filing a separate return can re-direct up to $1,250 of their income tax payments to GOAL.
- An individual can re-direct up to $1,000 of his or her income tax payments to GOAL.
- An individual who is a member of a limited liability company, shareholder of an ‘S’ Corporation, or partner in a partnership (pass-through entities) is allowed a Georgia income tax credit for up to $10,000 of the amount they contribute to a SSO, so long as they would have paid Georgia income tax in that amount on their share of taxable income from the pass-through entity.
How do I redirect my Georgia income taxes to Providence?
Simply click HERE and submit your application to GOAL through their easy paperless process. Please make sure to fill out all required boxes on the form, sign the form with an e-signature, and sign the consent box with an e-signature. This will only take a few minutes of your time, and it’s the safest, most efficient and effective way to participate in this wonderful program.
You will have sixty days to make your contribution to GOAL (for Providence’s account) via check or credit card once you are approved to participate by the Georgia Department of Revenue. If you choose to submit payment up front when you submit your application, your credit card payment or your check made payable to “Georgia GOAL Scholarship Program, Inc.” will be processed only when GOAL receives your Approval Letter from the DOR. Remember that this contribution does not make you eligible to claim a tax write-off, but a TAX CREDIT, so you’ll receive 100% back when you file your year-end tax return. GOAL will send you the required paperwork to claim the credit with your taxes.
Georgians have been given a rare opportunity — the ability to tell the state how to spend a portion of their state income tax dollars.
Time is of the essence! The state-wide $58 million cap gets met earlier and earlier each year. In fact, tax payers are already pledging their intent to participate for the following tax year, and the tax credits are going fast! After the cap is met, no applications will be approved by the state. Getting your forms in sooner will increase your chance of getting approved, so please start the simple redirect process today!
For further information, please contact Stacey Denard in the Providence Office.