Quantcast
Home / Home news / Tax credit deadline approaching for Arizonans

Tax credit deadline approaching for Arizonans

Arizona taxpayers face an upcoming deadline for making donations to claim state tax credits.

The Arizona Republic reports that taxpayers must make their donations and purchases required to claim state tax credits by Dec. 31, in most cases.

The deadline to earn 2011 tax-year credits for donations made to qualifying private-school tuition organizations is April 15.

A tax credit lowers the amount an individual pays in taxes dollar for dollar.

Credits are different from tax deductions.

A deduction decreases the total amount of an individual’s taxable income, so its value depends on which tax bracket the individual falls into.

Arizonans paid $867 million in individual state income taxes and earned $204 million in tax credits for the 2010 tax year.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

House-of-representatives-620

Lawmaker seeks new way for big firms to use tax credits

The proposal from Rep. Jeff Weninger was approved on a 5-4 vote Wednesday despite concerns about its cost of at least $20 million a year.