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FOR CORPORATIONS
APESF is now accepting corporate tax credit contributions! Corporations that pay Arizona taxes are eligible to receive a 100% dollar-for-dollar tax CREDIT for contributions made to APESF. Please see the following publication for more information:
Steps to "Take the Corporate Credit"...
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Notify APESF by calling 480-699-8911 that the corporation would like to make a tax credit contribution.
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APESF will submit an approval request for the contribution to the Arizona Department of Revenue.
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If the state-wide cap of $12 million has not been met, the Department of Revenue will respond within 20 days approving the contribution.
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APESF will notify the corporation that the contribution was approved. The corporation has 10 days to make payment to APESF. (If payment is not made within 10 days, the contribution will be taken out of the cap and the process must start all over again.)
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The corporation takes the credit on its next tax return, but may carry any unused credit forward for up to five years.
The corporation may recommend a specific school but cannot recommend a specific student. If no eligible students make application to APESF from the recommended school or if the recommended school is not considered a qualified school under tax credit law, the funds will be awarded to eligible students in other qualified schools. The corporate tax cap will increase by 20% per year till 2011.
Applicant Eligibility
A child is eligible to receive a Corporate Tax Credit Scholarship if the following requirements are met:
- The child is entering Kindergarten in a qualified private school OR the child attended a public or charter school as a full-time student for at least the first 100 days of the prior year and is transferring to a qualified private school full-time.
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The family's income does not exceed 185% of the income limit required to qualify for reduced-price lunches under the national school lunch and child nutrition acts. See below:
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Federal Reduced-Lunch Program Guidelines
Effective for School Year 2008-2009
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Arizona Corporate Scholarship
Income Guidelines
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Household Size
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Annual Income
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185% of Annual Income
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1
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$19,240
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$35,594
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2
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$25,900
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$47,915
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3
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$32,560
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$60,236
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4
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$39,220
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$72,557
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5
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$45,880
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$84,878
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6
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$52,540
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$97,199
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7
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$59,200
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$109,520
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8
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$65,860
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$121,841
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For each additional member, add...
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$6,660
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$12,321
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