Corporate

Corporate Tax Credit Procedure

The state approves corporate requests on a first come first serve basis. The cap for July 1, 2017 thru June 30, 2018 is $74.300 million. To make a donation, please follow the steps provided.
  1. Contact STAY with the following information:
    1. Name of the corporation requesting to make the donation.
    2. Amount the corporation wishes to donate.
    3. Corporate mailing address.
    4. Corporate federal tax id.
    5. C Corporation or S Corporation?
    6. Name and EIN of parent S Corporation if contributing company is a qualified subchapter S subsidiary.
    7. Does the corporation pays insurance premium tax? NAIC Number.
    8. Calendar year or fiscal year? If fiscal year, what is the 2015 fiscal tax year begin and end.
  2. STAY will complete a corporate donation application to the Arizona Department of Revenue.
  3. ADOR has 20 days to approve the contribution and notify STAY.
  4. STAY will notify the corporation if they are approved by the DOR, and then the corporation has 20 days to send the contribution. After 20 days, the state approval expires and the corporation must start the process over again.
  5. You will receive a receipt to be used in lieu of the payment of Arizona income tax.

Donations are not limited, only the tax credit is limited. Corporate donations made to STAY would be treated the same as a donation to any other 501(c)3 charitable organization.

Programs

1. Low-Income Corporate Tax Credit
  • Eligibility is limited
1. The student must meet one of the following criteria:
  • Dependent of an active duty member of the US Armed Forces who is stationed in AZ pursuant to military orders.
    - or -
  • Enrolls in a qualified private school Kindergarten program.
    - or -
  • Attended a public school for 90 days of the prior school year and transferred to a qualified private school.
    - or -
  • Received a scholarship from a Corporate Low-Income program - OR - an Original Individual program - OR - an Switcher Individual program, issued by an Arizona STO, and had uninterrupted continual enrollment in a qualified private school.
- AND -

2. The family must meet the following income guidelines based on household size and income.
  • Federal Low Income Guidelines
Household Size Income Limit
2 $55,581
3 $69,887
4 $84,194
5 $98,500
6 $112,806
7 $127,112
8 $141,418
** Add $14,306 for each additional household member.

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