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Apogee School Choice Scholarship Fund |
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Donate and Get a Tax Credit
You can find all the resources necessary to donate and apply for this tax credit by clicking here.
For additional questions or assistance, please contact Peter Murdock at Lyndon Academy (770-926-0166) or John Panessa at Apogee (404-419-7123).
To learn more about the Apogee Georgia School Choice Scholarship Fund, please visit http://www.apogeescholarships.org/
How can this tax credit benefit me and Lyndon Academy?
Under the new law, you can redirect a portion of your Georgia income tax liability to provide scholarship assistance to incoming Lyndon Academy students. 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).
What is this tax credit?
This is a Qualified Education Expense Credit. It was passed into law in July, 2008. Lyndon Academy is excited about the law as it has financial benefits both for you and Lyndon Academy. The state has set aside $50 million in available credits each year, distributed on a first come first served basis.
How does it work?
We have partnered with Apogee Georgia School Choice Scholarship Fund, a state approved Student Scholarship Organization (SSO), to enable the Lyndon Academy community to take advantage of this program. With a donation to the Apogee Georgia School Choice Scholarship Fund in the name of Lyndon Academy, 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
A single individual or head of household will receive a maximum 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.
If filing jointly, the maximum amount of tax credit is equal to the actual amount expended or $2,500 per tax year, whichever is less.
Note that electronic filing of state income tax return will not be available for taxpayers claiming this credit.
Corporate donors have a state income tax credit limit up to 75% of the corporation's income tax liability or the actual amount donated, whichever is less. Corporate donors also have the option to NAME a dedicated scholarship fund in company's name.
Who qualifies for the scholarship?
See Qualifications
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