Arizonans have the opportunity to divert more of what they owe in income taxes this year to students who attend private schools.
School Tuition Association of Yuma (STAY) program administrator Rex Pope said that the cumulative credit limit available for married couples is $2,006 and for other taxpayers it is $1,003.
While individual tax credit limits for the current tax year is $1,006 for married couples and $503 for all other taxpayers, there's a second credit now available referred to as the "switcher credit," and the limits for this year are $1,000 for married couples and $500 for any other taxpayer.
Pope said that the individual tax credit is available to students who attend private schools. The switcher credit is available to a student who is either a dependent of an active-duty military member stationed in Arizona by order, has received a corporate low-income scholarship a previous year and continues to attend a private school, or has attended a public Arizona school for 90 days of the prior school year.
He added that there is also a corporate tax credit option as well.
Distributed by MCT Information Services
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- Bitcoin Clones Lurch Onto Financial Scene
- General Motors Names Mary Barra as First Female CEO
- Clinton to Keynote Annual Simmons Leadership Conference
- AIG to Create 230 Jobs in Charlotte
- How Bitcoin and Other Cryptocurrencies Work
- Californians Want to Legalize Marijuana
- Selena Gomez, Shakira Among Top Hispanic Searches
- Pacific Trade Pact Delay Hinders U.S. Pivot to Asia
- PhD Project Grooms Business Profs