2023 Education Tax Credit fund has closed
On January 3rd, the $120 million fund cap was exceeded.
Therefore, the education tax credit fund has closed for the remainder of the year.
No more contributions can be made until it reopens again in 2024.
Thank you to all of our 2023 contributors and we look forward to working with you again in 2024!
Therefore, the education tax credit fund has closed for the remainder of the year.
No more contributions can be made until it reopens again in 2024.
Thank you to all of our 2023 contributors and we look forward to working with you again in 2024!
Georgia's Education Tax Credit Program
In 2008, Georgia’s lawmakers passed HB 1133, the Qualified Education Expense Tax Credit law, to give parents and students better access to more educational opportunities. The law allows:
- Eligible students to use this scholarship to attend any Georgia private school of their choosing
- Georgia taxpayers to receive a dollar-for-dollar, state income tax credit for contributions
Huge opportunity for S-corps & Partnerships:
Claim a much bigger GA tax credit and pay less in Federal taxes!
Through HB 149, S-corporations and Partnerships can elect to pay their state income taxes at the entity level (like C-corps) and claim up to 75% of their GA income tax liability in tax credits.
In addition, the IRS allows contributions made in exchange for state tax credits to be claimed as an ordinary and necessary business expense; saving thousands in federal taxes.
Contribute to the Alyn Scholarship Fund & reduce your Federal taxes!
In addition, the IRS allows contributions made in exchange for state tax credits to be claimed as an ordinary and necessary business expense; saving thousands in federal taxes.
Contribute to the Alyn Scholarship Fund & reduce your Federal taxes!
Don't miss out in 2024. Go ahead and make your tax credit request today.
The Education Tax Credit program opens on the first day of business each January and now has a statewide cap of $120 million. Once the cap is reached, no more requests are approved for that year.
In 2023, the $120 million cap was reached on the very first first day. We anticipate that this will be the new normal going forward and all of the tax credits will be claimed each year on the first day. So, don't miss out. Apply today.
In 2023, the $120 million cap was reached on the very first first day. We anticipate that this will be the new normal going forward and all of the tax credits will be claimed each year on the first day. So, don't miss out. Apply today.