Redirect Your Tax Dollars to CCS
The $58 million cap for the 2015 Georgia Private School Tax Credit Program has been met. Please check back for dates to pre-apply for the 2016 tax year. Thank you for supporting need-based financial aid at Covenant Christian School through this valuable tax credit program.
What is the Georgia Private School Tax Credit Program?
The Georgia Private School Tax Credit (HB 1133) was passed into law in the summer of 2008 to improve educational opportunities in Georgia. For 2015, the state has set aside $58 million in credits to be distributed on a first-come, first-served basis.
- Under this law, every Georgia taxpayer has the option to redirect a portion of their Georgia income tax liability to a Student Scholarship Program (SSO) to provide financial aid assistance to a private school of their choice.
- Participants will receive a dollar-for-dollar tax credit on their Georgia income taxes and a charitable deduction on their federal income taxes for the amount donated. See chart below for tax credit amounts allowed.
- In 2014, the $58 million was expended by Jan. 22. This year it is expected to be gone within the first few days of the year.
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For
Individuals:
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A single individual or a 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.
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If you are Married Filing Jointly:
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The amount of the tax credit is equal to the actual amount expended or $2,500 per tax year, whichever is less.
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If you are a Corporate Donor:
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State income tax credit limit up to 75% of a C-corporation’s income tax liability or the actual amount donated, whichever is less.
For “S” corporations, LLCs and Partnerships, or for anyone who receives income through a pass-through entity, the amount of the tax credit is equal to the actual amount expended or $10,000, per individual, per tax year, whichever is less.
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Who qualifies for the scholarship?
Incoming students who are currently enrolled in a public school or any rising prefirst, kindergarten, first grade, or have been home-schooled, who qualify for need-based financial aid at CCS, are eligible to receive funds. The school distributes the monies raised.
How May I Redirect My Georgia Tax Dollars?
Covenant Christian School has partnered with Apogee Georgia School Choice Scholarship Fund, a state-approved Student Scholarship Organization, to enable the CCS community to take advantage of this program.
How to Participate in the Tax Credit Program
Paperless – It’s fast and easy!
Click here to complete the electronic form.
No signature is required.
Apogee will submit your information starting Jan. 1, 2015.
Printed forms to mail, fax or email.
Click here to print the form.
Mail, fax or email the completed form to Apogee at:
Apogee Scholarship Fund
3330 Cumberland Blvd., Suite 400
Atlanta, GA 30339
Email: scholarships@apogeescholarships.org
Fax: 404-419-7101
Apogee will remain in touch with you throughout the process and notify you by email (or letter if an email address is not provided) when your tax credit application is approved. To finalize your participation, Apogee must receive your payment within 60 days of the state’s approval, either by mail to the Apogee address or online with a credit card at www.apogee123.org/cms/pay-here-now. Checks should be made payable to the Apogee Scholarship Fund.
Your participation in the Georgia Private School Tax Credit Program benefits Covenant Christian School, but is not considered a donation to the Annual Fund. For the tax credit contribution you will receive a dollar-for-dollar tax credit when you file your Georgia state income tax forms for the year of the credit, as well as a charitable tax contribution to Apogee, when you file your federal income taxes. Your support of both programs helps Covenant Christian School meet its financial obligations.
For more information click here.
Questions?
Mary Denson
Director of Development
Covenant Christian School
770-435-1596
mdenson@ccssmyrna.org
John Panessa
Apogee Scholarship Fund
404-419-7123
jpanessa@apogeescholarships.org
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