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COMMONLY ASKED QUESTIONS
WHO CAN MAKE A CONTRIBUTION?
We can accept contributions only from individuals. We cannot accept contributions from businesses or corporations.
DO
I HAVE TO HAVE CHILDREN ENROLLED IN SCHOOL?
No- Any Arizona individual paying state income tax can make a tax credit
contribution to be used towards extra curricular fees.
DO I HAVE TO LIVE WITHIN THE DISTRICT?
No- Any individual
who pays Arizona State income tax can contribute. [We encourage you to invite grandparents, uncles, aunts or anyone in-state
to participate!]
DO I HAVE TO DONATE THE FULL $200 or $400?
No; But remember, you can take this credit
on any tax liability for state income taxes up to $200 on an individual tax return or $400 on a joint return. You may donate
up to your $200 or $400 limit in installments during the calendar year or donate it at one time. [That means you can make
smaller payments, like $20/month if you like, so you don't feel it all at once. Just remember to make sure you designate it
goes to MHS Football]
HOW DOES THIS WORK ON MY TAX RETURN?
As an example, lets say you made a $300 tax
credit contribution. When you file your state taxes, you will note the credit with a 322 form. (downloadable from the State.)
If your State tax return calculates to a $500 refund, applying the credit will increase your refund to $800. If your State
tax return calculates to a $400 liability (you owe) then applying the credit will reduce your liability to $100. However,
you cannot receive a refund greater than your State income tax assessment for the tax year.
CAN A TAXPAYER RECEIVE
A REFUND OF THESE CREDITS?
No- The credits may only be used to the extent they reduce a tax liability to zero on your
Arizona tax return. Any unused amounts may be carried forward for not more than five consecutive taxable years.
CAN
A TAXPAYER MAKE A PAYMENT OF FEES TO AN ORGANIZATION(e.g., PTA, school foundation, school district or school club) WHICH THEN GIVES THE FUNDS IN A LUMP SUM TO THE SCHOOL OR DIRECTLY PAYS FOR EXTRA-CURRICULAR ACTIVITIES?
No- ARS § 43-1089.01 requires that the fees be paid to a public school. Therefore, the payment must be made directly
to the public school only (simply specify MHS Football as your preferred recipient).
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