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Top 3 Arizona Charitable Tax Credit Myths

Debunking 3 common myths surrounding Arizona’s Tax Credit

There have been some exciting changes this year to the Arizona Charitable Tax Credit, also known as the Credit for Contributions to Qualifying Charitable Organizations Tax Credit. One particular change may sound too good to be true, but we’re here to to tell you it’s true…and dispel other common myths that surround this credit each year.

It’s myth-busting time!

1. I heard that the limits were doubled this year from $200 for singles and $400 for married couples, to $400 and $800. Is this true?

TRUE. The great news is, this is not a rumor! Earlier this year, Governor Ducey signed into law SB 1216. This bill increased the maximum amount of tax credit you are able to take for donations made to qualified charities like St. Vincent de Paul. Married couples, filing jointly, can now claim up to $800 and singles can claim up to $400. Read SB 1216 here.

2. If I take the Credit for Contributions to Qualifying Charitable Organizations Tax Credit, then I can’t take other credits, such as credit for donations to schools and foster care agencies.

FALSE. Each tax credit is separate, so you can take the Arizona Charitable Tax Credit in addition to tax credits for schools and foster care agencies. See Form 301 on the Arizona Department of Revenue’s website for other credits you may be able to take.

3. I don’t have enough money to donate $400 (or $800) at once. And I’ve already given several financial gifts to St. Vincent de Paul earlier this year, but they were not designated for the tax credit, so I guess I don’t qualify for the credit.

FALSE. You do not have to donate the whole amount at once. Any financial donations given throughout the year qualify for the tax credit up to the $400 and $800 limits, regardless of the designation. We can even set up a monthly gift option for you to spread the gifts out over the year. For more information, please call Donna Rodgers at 602-261-6884.

We hope you consider this opportunity to “take the credit” while helping our neighbors in need. To donate over the phone, call 602.266.GIVE (4483). Click here to donate online. Or if you have further questions and would like to learn more, please read our online Tax Credit Guide or call our Annual Giving Manager, Donna Rodgers, at 602.261.6884.

Please remember that we are not tax advisers and you should consult your tax adviser or the Arizona Department of Revenue’s website at www.azdor.gov for more information.

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