Support
Aim High Institute is a charter school. This means its funds come from the State of Arizona. This is how we are able to offer your child a private school education for free!
However:
Our start-up funds all originate from loans. Repayment of these loans is spread over the next few school years. Every penny donated will help relieve the burden of repayment sooner. To help with this, please click on "Donate" for general school funds.
Arizona Public School Tax Credit
Q. What is it?
The Arizona Public School Tax Credit is a unique program that gives Arizona taxpayers the opportunity to contribute to the extracurricular programs at the public school of their choice and receive a dollar for dollar credit on their state taxes.
Q. How much can I give?
In 2009, married couples filing jointly can contribute $400. Individual filers can contribute $200.
Q. How does it work?
- Make your tax credit contribution to AHI by 12/31/2009.
- Aim High sends you a receipt for your donation. Hold on to it.
- When paying taxes in the Spring of 2010, you compute your state tax liability; deduct the full amount of your donation.
- The resulting figure is what you actually owe Arizona for 2009.
Q. What if I owe the state a remaining balance?
For example: If you have a remaining state tax liability of $1800, since you donated a $400 tax credit in 2009, you immediately reduce that figure to $1400. That’s the final amount of state tax you owe.
Q. What if the state owes me?
For example: If you are due a refund from the state of $200, since you donated a $400 tax credit in 2009, you immediately increase that figure to $600! As long as you have a state income tax liability of greater than $400 that’s the final amount of your state refund check to you.
Q. So there is no additional cost to me?
That’s correct. You get your donation back through a dollar for dollar credit off your state tax liability.
Q. Can my family, friends and co-workers make a tax credit contribution to Aim High?
Yes! As long as they pay taxes to the state of Arizona, they can take full advantage of the Tax Credit. There is no need to have a child at the school.
Q. Can I take advantage of both the public and private school tax credits in the same year?
Yes. If you have a state tax liability of $1400 or more, you can take full advantage of both the public tax credit (up to $400) and the private tuition tax credit (up to $1000).
Q. Are there any restrictions?
If you have a very low taxable income (for example, if you are a retiree), you could have a state tax liability of less than $400. Also, with the other tax credits available you might end up going beyond your tax liability. If in doubt, check with a tax advisor.
Click to download the AZ Tax Credit form and Information sheet
