You can decrease your Arizona State Tax through a
donation to the
Boys & Girls Club of Sierra Vista under the
Arizona Charitable Tax Credit for the Working Poor (ARS
1088).
What is the
difference between a tax credit and a tax deduction?
A tax deduction is an item that
helps calculate what your final tax bill will be.
A tax credit is applied as a reduction to your final tax bill.
In this case, the tax credit comes right off the top of your
state tax bill, lowering the amount of money you the taxpayer must pay.
How do you
qualify?
You must itemize charitable
contributions on your tax return.
You must establish a baseline year for charitable contributions.
Your baseline year is the first year—as early as 1996 that you
itemized charitable contributions on your federal tax return.
What is the
amount of a tax credit donation?
·
$200 for a single individual or an
individual filing head of household
·
$400 for a couple married filing jointly
How does a tax
credit donation to the Boys & Girls Club of Sierra Vista qualify for the
Arizona Charitable Tax Credit?
A qualifying charitable
organization is a charitable organization that is exempt from federal
income taxes under section 501(c)(3).
Also a qualifying agency must provide: cash assistance, medical
care, child care, food, clothing, shelter or any other assistance that
is reasonably necessary to meet immediate basic needs and that is
provided and used in Arizona.
Must a qualifying
charitable organization be certified?
Yes. The qualifying
charitable agency has applied and been certified by the Arizona
Department of Revenue.
Is there a list
of qualifying charitable organizations?
Yes.
http://www.revenue.state.az.us
Can you utilize
the School Tax Credit and the Arizona Charitable Tax Credit for the
Working Poor (ARS 43-1088) in the same tax year?
Yes.
The Boys & Girls Club of Sierra Vista tax credit donation
(Arizona Charitable Tax Credit for the Working Poor ARS 1088) is
different than the tax credit for public and private schools (School Tax
Credit).
Mail your
donation today to:
Boys & Girls Club
of Sierra Vista
PO Box 688,
Sierra Vista, AZ 85636