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Incorporated in 1999, School Tuition Association of Yuma, Inc. (STAY) is an AZDOR certified Corporate STO (School Tuition Organization)
and is a tax-exempt charitable organization pursuant to section 501(c)(3) of the Internal Revenue Code. ( EIN #86-0947351 )
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Mission Statement
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The objective of STAY is to give the opportunity to attend a private school to
more children by effectively implementing the provisions of the Arizona Private
School Tuition Tax Credit.
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Tax Credit Limits
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Corporate Limits
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The corporate tax credit donation limitation for fiscal year 2013, (July 1, 2012 - June 30, 2013)
will be $29.859 million and for fiscal year 2014 will be $35.831 million.
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Individual Limits
Collectively, the limit for individuals for tax year 2012 is $2,006 (married filing jointly)
or $1,003 (filing single or seperately).
The way it works for tax purposes is as follows. Individual donations are applied to the "Original Individual
Tax Credit" until the donor reaches their "tax credit limit" for the tax year. At that time, the excess dollars
are applied to the new "Switcher Individual Tax Credit" until that credit is also maxed for the tax year. Any
donations in excess of the total limit, $2,006 (married filing jointly) or $1,003 (filing single or seperately),
are treated as donations which can be taken as itemized deductions on both your federal and state income tax
returns.
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Original Individual Tax Credit (Claimed on Arizona Form 323)
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Donors that file married filing jointly, for income tax purposes, can take a tax credit up to $1,006.
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Donors that that do not file married filing jointly, for income tax purposes, can take a tax credit up to $503.
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Switcher Individual Tax Credit (Claimed on Arizona Form 348)
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Donors that file married filing jointly, for income tax purposes, can take a tax credit up to $1,000.
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Donors that that do not file married filing jointly, for income tax purposes, can take a tax credit up to $500.
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