Arizona law provides a tax credit for contributions to public schools to support extracurricular activities or character education. A Tax credit is a dollar-for-dollar reduction in your Arizona income tax liability. An individual may contribute as much as $200, and a couple filing jointly may contribute as much as $400 to a public school and receive the money back in the form of a tax credit.
The state tax credit is available to ALL qualifying individual Arizona state taxpayers, you do not need to have a child enrolled in a school to take advantage of this state tax credit. Contributions may be made until April 15, 2018 for your 2017 Arizona state tax return. Any contributions made before January 1st may also be used as charitable tax deductions on your 2017 federal return. Any contributions after January 1st would be eligible for your 2018 federal return.
Contributions to Leman Academy of Excellence’s extracurricular activities are eligible for Arizona tax credits. Extracurricular activities are optional, noncredit activity such as educational field trips, character enrichment programs, athletics, musical theater and any other supplemental programs.
The Arizona State Tax Credit is not a deduction it’s a tax credit and you do not need to itemize. For example if you are married and filing jointly and owe $800 in state income tax you can make a school tax credit contribution for $400 and receive a $400 dollar credit on your Arizona income tax return. To claim your tax credit, simply submit Arizona DOR Form No. 322 with your Arizona tax return.
Arizona Form 322
Form 322 Instructions