Arizona Charitable Tax Credit
With the extension of the Arizona State tax filing deadline, you now have until May 17, 2021 to make your gift in order to claim the dollar-for-dollar credit on your 2020 Arizona state income taxes.
Give families togetherness AND get an Arizona state tax credit! Here’s how:
Under the Arizona Charitable Tax Credit Law (ARS43-1088), donations to Ronald McDonald House Charities of Central and Northern Arizona qualify for the Credit for Donations Made to Qualifying Charitable Organizations program in Arizona. That means you can receive a dollar-for-dollar tax credit on your state income taxes, up to $800 for married couples filing jointly or $400 for taxpayers filing as single or head of household. Click here for more information from the Arizona Department of Revenue website.
Qualifying Organization (QCO) Code: 20400
(Donors will be asked to provide this code when taking the tax credit on their income tax returns.)
Consult your tax advisor for details and advice on your specific situation.
What is Arizona’s Charitable Tax Credit?
Formerly known as the “Working Poor” tax credit, the Charitable Tax Credit allows Arizona taxpayers to claim a dollar-for-dollar credit when they make donations to qualifying charities like Ronald McDonald House Charities of Central and Northern Arizona.
When is the deadline to make a tax credit donation?
TAX DAY! Beginning with the 2016 tax year, contributions made to a Qualifying Charitable Organization (like RMHC CNAZ) that are made on or before April 15th may be applied to either the current or the preceding taxable year for your Arizona State tax return. In order for donations to qualify for your federal tax return, they must be made by December 31 of that tax year.
How much can I contribute?
To receive a dollar-for-dollar tax credit on your Arizona state taxes, donors can give a maximum of $400 for single taxpayers or heads of household and $800 for couples filing jointly.
I already donate to my child’s school. Can I claim this credit, too?
YES! There are five different qualified areas eligible for a tax credit, and you can claim each of them in the same tax year, up to your tax liability from that year:
- Qualified Charitable Organization (Ronald McDonald House Charities of Central and Northern Arizona is a qualified QCO)
- Qualified Foster Care Charitable Organization
- Public or Private Schools
- School Tuition Organization
- Arizona Military Relief Fund