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Please find below the information and resources to better explain the tax credit and your options for donating.
What is the Qualified Education Expense Credit?
This tax credit was passed into law in May, 2008. CCS is excited about the law as it has financial benefits both for you and CCS. The state has set aside $50 million in available credits each year, distributed on a first come first served basis.
How can this tax credit benefit both CCS and you?
Under the new law, you can redirect a portion of your Georgia income tax liability to provide scholarship assistance to incoming CCS students that are currently enrolled in public school or going into our k4 or k5 program. You will receive a tax credit on your state income taxes and a charitable contribution deduction on your federal incomes taxes for the amount donated. For married couples filing jointly, the maximum tax credit-eligible contribution is $2,500 ($1,000 as an individual).
How does it work?
We have partnered with Apogee Georgia School Choice Scholarship Fund, a state approved Student Scholarship Organization (SSO), to enable the CCS community to take advantage of this program. With a donation to the Apogee Georgia School Choice Scholarship fund, a Georgia state income tax credit is available to you for the tax year the donation is made. Your donation can be used as a charitable contribution deduction on your Federal tax return.
Tax Credit Amounts by Filing Status
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For Individual |
A single individual or head of household will receive a credit against their Georgia income tax liability in an amount equal to the actual amount expended or $1,000 per tax year, whichever is less.
Electronic filing of state individual income tax return is available for taxpayers claiming this credit.
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Married
Filing
Jointly |
The amount of the tax credit is equal to the actual amount expended or $2,500 per tax year, whichever is less.
Electronic filing of state individual income tax return is available for taxpayers claiming this credit.
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Corporate
Donor |
State income tax credit limit up to 75% of the corporation’s income tax liability or the actual amount donated, whichever is less.
Option to NAME a dedicated scholarship fund in company’s name.
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Who qualifies for the scholarship?
A Georgia resident enrolled in secondary or primary public school or eligible to enroll in a qualified kindergarten program or pre-kindergarten program.
How to Donate?
You can find all the resources necessary to apply for this tax credit on our website. Go to our "How to Begin" section to start the process. For additional questions or assistance, please contact CCS or John Panessa (404.419.7123) @ Apogee. To learn more about the Apogee Georgia School Choice Scholarship Fund, please visit http://www.apogeescholarships.org .Apogee is proud to offer the Apogee Georgia School Choice Scholarship Fund. For more information about Apogee360’s services, please visit us on the web.
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