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Handbook page added September 23, 2022
GASSO TAX CREDIT PROGRAM
Taxpayers in the State of Georgia can contribute money to GASSO in order to provide scholarships for students at CCA. In return, donors will receive a tax credit for the full amount of their donation from the Department of Revenue. Additionally, GASSO donations are federally deductible as a charitable gift.
Complete the online form no later than December 30th.
Send in your approved donation amount by March 15th.
File for the full tax credit on your Georgia income tax return.
The Georgia QEE Tax Credit Program allows dollar-for-dollar tax credits for scholarship donations made through a qualified SSO, up to the following limits:
For individuals who are single, up to $1,000;
For individuals who are married, up to $1,250;
For married couples filing jointly, up to $2,500;
For C Corporations, up to 75 percent of their Georgia income tax liability;
For members of limited liability corporations (LLCs), shareholders in Subchapter ‘S’ corporations, and partners in partnerships, up to $10,000.
The amount of tax credits that can be taken is limited to the donor’s tax liability or actual donation amount, whichever is less.
Beginning in 2019, Georgia will fund this program up to $100 million. If total requests surpass this limit, your donation approval will be pro-rated.
Donors may not designate particular students to receive scholarship funds.