Apply as early as possible in the year in order to be approved before the annual $50 million cap is reached.
Allow 30 days before the calendar year end in order to receive permission from the state to donate for the current tax year.
Print Donor form: Georgia Form IT-QEE-TP1.
Tax Credit for Education
Fast Facts About Faith First:
- • Individual Donor Maximums:
- Individual/Head of Household: $1,000
- Married Filing Jointly: $2,500
- Corporations: 75% of GA Tax Liability
- • Five Year Carry-over to Donors Exceeding Maximums
- • Available for Tax Year 2015
- • Dollar for Dollar GA Income Tax Credit
- • Annual Cap - Approximately $50M
- • Federal Charitable Income Tax Deduction
- • GA DOR Pre-Approves Credits
About the Tax Credit
Georgia has joined several other states in offering a tax credit to those who wish to contribute to a scholarship fund (student scholarship organization—SSO) for private education. The Georgia Education Expense Credit allows individual and corporate taxpayers to contribute to a qualified SSO and receive a dollar-for-dollar credit against their Georgia income tax liabilities as well as receiving a deduction for the charitable contribution on their federal income tax return. Faith First Georgia is the SSO Cumberland is partnering with to help provide scholarships to qualifying CCA students.
Additional Information:
Frequently Asked Questions
Faith First Slide Presentation (requires Power Point)
Faith First Georgia (GCSSF): www.faithfirstga.org
Georgia Department of Revenue: www.etax.dor.ga.gov
