Arizona Tax Credit Program
Get a State Tax Credit for Contributing to DMS!
It can literally cost you nothing to give hundreds of dollars to the school!
An Arizona Tax Credit contribution allows you to receive a reduction in the amount you owe on your state taxes, dollar-for-dollar, for the amount of your donation. This is a tax credit, not a deduction, so the full amount is subtracted from what you owe in Arizona income taxes. It costs you nothing!
By making an Arizona Tax Credit Contribution to Desert Marigold you are actually specifying how your tax dollars are spent on education, funding extracurricular, character and moral building programs.
How it works:
- At the end of the year you will receive a statement from the school acknowledging the contribution and it’s eligibility for the Arizona Charitable Tax Credit program.
- Claim the tax credit when you file your state income taxes. For example, if you owe $500 in state taxes and you contributed $200, you would only owe $300 in state taxes. If your tax liability to the state is less than the amount you contributed, you can carry the unused amount of credit over to future returns.
Tax credit contributions must be received by December 31st. All contributions are reported to the State of Arizona and all contributors will receive a contribution receipt for tax purposes.
Monthly Payment Plan:
In order to avoid a large payment right at holiday time, many people prefer to spread their tax credit contribution over the year with smaller, monthly installments.
For instance you could donate only $20 per month (single taxpayer) or $40 per month (married) over a 10-month period and still get the entire contribution back when you file your taxes the following year!
Contact the DMS office at 602-243-6909 to set this up.
Consult your tax adviser for further information.