Who can take these tax credits? Any full-time or part-time Arizona resident who has an Arizona tax liability.
Why would the government allow me to pay less in taxes? For the government and you, this is a win-win. When you donate to non-profits like Catholic Charities, you’re helping programs that benefit the whole community, like foster care, Head Start, the homeless and veterans.
Do I have to contribute the maximum amounts to get my tax credit? You can contribute any amount up to the maximum amount and use that as your tax credit.
Can I take more than one tax credit? Yes! If you have enough tax liability, you can take more than one credit to cover it. The Foster Care Charitable Giving Tax Credit can be stacked on the Charitable Giving Tax Credit, Private Education and Public School.
What if I have more credits than I have taxes to pay? If you gave more in tax credit than you owe in Arizona taxes, then you can use them to pay future Arizona taxes up to five years.
What do I need to take my tax credit on my taxes? Simply keep your year-end gift receipt from the charities that you gave to that qualify for the tax credit for you own personal tax records.
Where do I get the tax forms needed for the Charitable Giving tax credit? You’ll need to use the AZ 140 and then your specific tax credit form that you can get at azdor.gov/TaxCredits.aspx. For Charitable Giving Foster Care, use AZ Form 301 and AZ Form 352.
If I take the tax credit, can I also get a federal tax benefit, too? Yes! If the organization you are giving is a federal 501C3 charity, then you can use your donation as both an Arizona state tax credit and federal tax deduction.
Who benefits from my tax credit gifts? When you give to Catholic Charities, the vulnerable in your community benefit from your gift. This means you’ll help veterans and others experiencing homelessness, children in foster care, domestically abused survivors and their children, sex-trafficked women and others.