Arizona Tax Credits: Eligible Charitable Contributions
Arizona law provides a number of tax credits. A credit counts dollar-for-dollar against your state income tax liability. Instead of writing a check to the Arizona Department of Revenue, you write checks to charities, and reduce what you owe in Arizona taxes by the amount of your contribution.
|(1) Donations to Qualifying Charitable Organizations (QCO)||$800/$400|
|(2) Donations to Qualifying Foster Care Charitable Organizations (QFCO)||$1,000/$500|
|(3) Donations to certified School Tuition Organizations (STOs)||$1,131/$566|
|(4) Donations to private School Tuition Organizations (STOs)||$1,138/$569|
(1) St. Vincent de Paul Phoenix (20540), St. Mary’s Food Bank (20208), St. Joseph the Worker (20248), Housing for Hope (affiliate of Catholic Charities- 21977), Maggie’s Place (20492) and 1st Way Pregnancy Center (20266) are Qualifying Charitable Organizations. Each approved QCO has a five-digit code that you enter on Form 321. A complete list of QCOs is HERE.
(2) Catholic Charities Community Services(10000) is a Qualifying Foster Care Charitable Organization. Each approved QFCO also has a five-digit code that is entered on Form 352. A complete list of QFCOs is HERE.
(3) and (4) Both Catholic Education Arizona and the Brophy Community Foundation are certified School Tuition Organizations. You can direct your credit to a particular school (St. Francis Xavier, Xavier College Prep, or Brophy Prep), or allow the STO to distribute. To claim the original private credit, file Form 323. To claim the certified credit, file Form 348. A complete list of STOs HERE.
A separate credit is available for donations or fees paid to public schools ($400/$200). File Form 322.
A separate credit is available for shareholders of Subchapter S corporations for donations to School Tuition Organizations. The corporation makes the donation, and the shareholder claims their pro-rata share. File Forms 335-I and 341-I.
Corporate tax credits for donations to STOs also are available for non-subchapter S corporations. See your tax professional for more information.