Quick Guide to the Arizona Public School Tax Credit

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Quick Guide to the Arizona Public School Tax
Credit

• LESD 79
• Excellence Shines in the Litchfield District

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You can help support strong schools

• In Arizona, tax payers have an easy, effective
  way to support extra curricular activities or
  character education programs
• You have the opportunity to tell the state
  government where you want your tax dollars to go
• Parents, teachers, support staff, administration,
  grandparents, neighbors and friends can direct
  tax money to your schools activities and programs

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How do I know the tax credit will work for me?

• If you are single and your AZ taxable income is
  over 8,000
• If you are married and your AZ taxable income is
  over 16,000
• Then you are eligible to take the maximum tax
  credit, 200 single 400 married
• You can donate up to the maximum
• You can donate less than the maximum

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How does it work?

• A tax credit is a dollar for dollar reduction in
  your total tax liablity to the AZ Dept. Of
  Revenue, not an itemized deduction
• You make a contribution to LESD 79 on or before
  December 31 for the year you would like to apply
  the tax credit
• The district mails you a receipt
• When you file your AZ taxes (use form 322), you
  subtract the amount of your donation from what
  you owe or add the amount to your refund

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An Example

• You are married filing jointly and make a 400
  contribution to your school
• If you owe (or have a tax liablity) of 500 and
  have a 400 tax credit, you now only owe 100 to
  AZ. Dept of Revenue
• If your state tax liablity was 500 but had 600
  withheld from your pay checks. You would be
  planning to receive a refund of 100
• But if you also had a 400 tax credit, your
  refund will now be 500! Wow!

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Why should I participate?

• It costs you nothing extra your contribution is
  a dollar to dollar reduction in your tax liablity
• You control the money you can select the
  specific school and program you want to impact
• It improves our schools each contribution
  enriches learning in our community

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Why is this vital now?

• AZ public school funding is among the lowest in
  the nation
• Current budget cuts have directly impacted
  Elementary School field trips, Middle School
  athletics and fine arts and many other activities
  and programs
• The Arizona Public School Tax Credit lets you
  help restore funding to these areas without
  additional taxes

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As a parent/teacher population, we have fallen
short in utilizing this program

• LESD KyreneESD(1 in AZ)
• Donors 7 66
• Donations 156,000 1,714,000
• Avg Donation 242 141
• If our district had 66 participation at 141 -
  242 we would have an additional 750,000 -
  1,400,000 in available funds
• Our schools are missing out due to low awareness
  and participation in the tax credit program

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Choose to PARTICIPATEand SPREAD the WORD!
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7 Easy Steps to Participate

1. Determine the amount of your contribution up to
   200 if single, 400 if married
2. Choose a school you may divide between schools
3. Choose a program, if you wish
4. Complete the Tax Credit Form available at your
   school office or www.lesd.k12.az.us or have it
   deducted from your LESD paycheck

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7 Easy Steps to Participate

• Choose your payment option cash, check, money
  order, VISA or MasterCard
• Submit the completed form and your contribution
  by
• Web
• Mail
• Drop-off
• 7. Fill out Form 322 when you file your AZ taxes
  to receive full reimbursement of your tax credt.

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Additional Tax Credit Facts

• Your donation also reduces your taxable income to
  the federal government as an itemized charitable
  donation deduction
• Contributions are eligible for Corporation
  Charitable Donation Match programs. Verify with
  your employer
• Contributions are non-refundable from LESD, you
  must file AZDOR Form 322 with your state taxes
• The credits may only be used to the extent they
  reduce a tax liability to zero. Any unused
  amounts maybe carried forward up to five years
• For more information, call the Litchfield
  Elementary District Office at 623.535.6000 or
  visit www.lesd.k12.az.us

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Choose to PARTICIPATEand SPREAD the WORD!