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Arizona Charitable Tax Credit ARS 43-1088 Benefit for both the taxpayer and the Boys & Girls Club of Bisbee The Boys & Girls Club of Bisbee - A qualifying charitable organization What is a qualifying charitable organization? A qualifying charitable organization is a charitable organization that is exempt from federal income taxes under section 501(c)(3). What kind of services must the qualifying charitable organization provide? Services means cash assistance, medical care, child care, food, clothing, shelter or any other assistance that is reasonably necessary to meet immediate basic needs and that is provided and used in Arizona. Must a qualifying charitable organization be certified? Yes. The qualifying charitable agency has applied and been certified by the Arizona Department of Revenue. Is there a list of qualifying charitable organizations? Yes. http://www.revenue.state.az.us/welflist.htm Must a taxpayer itemize deductions in order to qualify for the credit? Yes. A taxpayer must itemize deductions and deduct charitable contributions on the Arizona state income tax return at least once in order to establish a baseline year and amount. The credit is then figured on the amounts over and above the baseline amount.
If qualified for the credit, what is the maximum amount of the credit that can be taken? $200.00
How does a taxpayer determine the baseline year and their eligibility to participate in the Arizona Charitable Tax Credit? These and other questions about the suitability of your tax situation should be referred to your professional tax preparer. When can I make the payment to the Boys & Girls Club of Bisbee? To receive the tax credit, the payment must be made during the current tax year (January-December). If you are interested please write Annette Renteria-Flores at annette.renteria@bgcbisbee.com |
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