Please consider making a tax credit donation to Colegio Petite Phoenix this year! Individuals filing as 'single' and 'head of household' can donate up to $200; taxpayers filing as 'married filing jointly' can donate up to $400. Although donations must be made by individuals, they are not restricted to parents and relatives of our students - anyone in the State of Arizona can make one of these donations and reduce the amount of state taxes they owe. What a wonderful way to have a say in where your Arizona State taxes are spent! Remember, this is a DIRECT CREDIT. That means you will get this money right back when filing your personal income tax return (or it will be credited to any taxes you may owe).
Commonly Asked Questions:
1. Do I have to have children enrolled in school?
No. Any Arizona individual paying state income tax can make a tax credit
contribution. Parents, Grandparents, Aunts, Uncles, Friends can all
2. How does this work on my tax return?
When you file your state taxes, you will record the tax credit contribution
on Form 322 As an example, if you make a $400 tax credit contribution
and you calculate a state tax refund, applying the credit will increase your
refund by $400. If you calculate a liability, applying the credit will reduce your liability. However, you cannot receive a refund greater than
your State income tax assessment for the tax year.
3. Do I have to donate the full $200 for individual or $400 for joint tax
No, you can donate any amount up to $200 for individual tax filers and $400 for married filing a joint return . . .so if you donate $50 or $100 toward the Arizona Tax Credit to Colegio, you can apply this to Form 322
for your state taxes and have it applied as stated above.
4. Who can make an Arizona Tax Donation?
Tax donations can be accepted only from individuals filing returns, not businesses.
5. How do I make an Arizona Tax Donation?
You can download the on-line form and mail in your Tax Donation or
drop it off at the school office. All contributions must be dated and
turned in on or before 12/31/2014, to be credited to your 2014
income tax. The downloadable form must be completely filled in to
guarantee credit for your tax donation.
Click here for more information about Arizona's Charitable Tax Credit Program.
Annual Tax Credit Program