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School Tax Credit

posted Jun 4, 2015, 10:06 AM by Jason Perez   [ updated Jun 4, 2015, 10:12 AM ]

Mom, Dad, Grandma, Grandpa, or any other interested Arizona taxpayer:

The schools can use your help, and you can get a credit on your Arizona Tax Return. Would you like to reduce your Arizona Tax liability by up to $400 (if married, filing jointly), give that same $400 to Anthem K-8 School, and give it for the benefit of any child you choose, including your own child?

This is money that you already are liable for on your Arizona Income Tax Return. Do not confuse your liability with your balance due. You may be due a refund because you have overpaid your taxes, or you may have a balance due, but neither of these factors matter when calculating your Arizona Tax Liability. Look on line 20 of the Arizona 140 Form or line 22 of the Arizona 140A Form. What is the tax owed on your taxable income? This number is what can be reduced by the tax credit. The net result on your tax return will be to either increase the amount of your refund or decrease the amount that you owe.

How do you do this? To receive the dollar-for-dollar tax credit, you must give the money directly to FUSD #1, not to the booster club or PTA or other school supporting institution. You can, however, direct the money to be spent for any fee-based extracurricular activity or character education program. The District Office for FUSD #1 is located at 1000 S. Main St., Florence, AZ 85132; or mail your check to P.O. Box 2850 Florence, AZ 85132, and you will be mailed a receipt. CLICK HERE for additional information on the District website, or CLICK HERE to download the tax credit form.

Thank You for your support!