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FAQ

FAQ

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 I. What is the process to support the CTO?

Complete the attached form with your credit card information or a check, insert into an envelope and mail today, call 480.227.0958 

email: Rabbi@iChabad.org .

II. Who can take the credit?

All Arizona taxpayers, can support the CTO and help children get the Jewish and secular education they deserve.

III. Will we receive a receipt?

Yes, you will receive a tax credit receipt and the Arizona tax form 323 by January 31

IV. How much dollar-for-dollar tax credit can we receive from the State of Arizona?

A maximum of $1,087 for filing single or married filing separate returns and $2,173 for married filing joint returns. This credit can be carried over for up to five years.

V. Can our support be less than the maximum?

Yes, all support is welcome.

VI. Are there any other tax credits, how much can we give them?

Yes, you can also support the tax credit for the working poor and public schools.
Working Poor tax credit qualifying Jewish organizations are: Jewish Family & Children’s Services, Jewish Free Loan, and Kivel Campus of Care.
Public schools - you should contact the school of your choice directly.
A maximum of $200 for filing single or married filing separate returns and $400 for married filing joint returns is allowed for each of these tax credit programs.

VII. How many of the tax credits can we support in one year?

You can support all three of them to a maximum of $900 for filing single or married filing separate returns and $1,800 for married filing joint returns.

VIII. Is any of this support also eligible for a federal income tax deduction?

Possibly. We are exempt from federal income tax under Internal Revenue Code 501(c)(3) as a charitable organization. Consult your tax advisor for specific tax advice concerning deductibility.

IX. What about the Corporate Scholarship Tax Credit?

A law was passed in Arizona in 2006 allowing that all “C” corporations and “S” corporations can take the credit if they do not pass their liability through to their shareholders or partners.

X. Where can I find out more about Arizona tax credits?

Visit the Arizona Department of Revenue’s website at www.revenue.state.az.us

 

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