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Proverbs 22:6 "Train up a child in the way he should go and when he is old he will not depart from it." |
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P.O. Box 10502 Please send scholarship
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Whether you are a parent looking for ways to afford Christian education for your child, or an Arizona taxpayer looking for new ways to support Christian education, you are invited to check out our program.
The Prescott Christian School Scholarship Foundation was incorporated in 1998 for the sole purpose of implementing the private school tuition tax credit law passed and signed into law in 1997 as A. R. S. Section 43-1089. PCSSF is a tax exempt organization pursuant to federal tax law, Section 501(c)(3). The constitutionality of the tax credit law has been upheld by the Arizona Supreme Court. The U.S. Supreme Court determined not to review the favorable Arizona Supreme Court decision. The law is effective for donations made during calendar year 1998 and for each year thereafter.
The Arizona Private School Tuition Tax Credit Law, A. R. S. Section 43-1089, allows a married couple filing jointly to make a donation to the PCSSF up to $1000 in 2007 and receive a dollar-for-dollar tax credit against the taxpayer's Arizona state income tax. A single taxpayer is limited to $500. If the taxpayer has actual Arizona state income tax less than the maximum allowable, the available credit in a given year is limited to the actual tax. The law allows a carry forward for up to five years if a donation is made in excess of the actual state income tax due. Arizona State income tax forms 301 and 323 are used for claiming the credit. The public school extracurricular activities tax credit of $400 for married couples filing jointly may be taken in addition to the private school tuition tax credit. These donations should be made directly to the public (including charter) school of your choice. A taxpayer may also be able to claim a federal deduction for the donation. The taxpayer should consult their tax advisor for specific tax advice.
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