Georgia Education Expense Tax Credit – 2016 Pre-Registration

GEORGIA EDUCATION EXPENSE TAX CREDIT

APPLY NOW FOR 2016 PRE-REGISTRATION

This tax credit is for contributions made to Georgia Student Scholarship Organizations.  These organizations provide scholarships for students to attend primary and secondary private schools.  The contribution is deductible on your individual federal income tax return as a charitable contribution, and a dollar for dollar tax credit is allowed to offset your Georgia income tax.

Maximum Tax Credit Allowed
Individual Taxpayer – Single:  $1,000
Individual Taxpayer – Married filing joint:  $2,500
S corporation shareholders, LLC members and partners in partnerships: $10,000, limited to 6% of pass through taxable income
Approval Process
Taxpayers must apply for pre-approval in order to participate in this program.  Once the annual credit cap is met, no additional applications are approved.

The annual cap for the 2015 credits was reached on January 1, 2015.  It is expected that the 2016 cap on the credits will be reached on January 1, 2016.  Therefore, it is important to apply early in order to take advantage of this program.  Many of the Student Scholarship Organizations are currently accepting “pre-registration” for the 2016 credits.

Please call our office at 404-255-7400 for additional information regarding this program.