The Jewish Tuition Organization (JTO), is a certified school tuition organization (STO). The JTO raises money for Jewish day school scholarships through Arizona’s dollar-for-dollar private school tax credit. The tax credit is available to both individual and corporate Arizona tax payers. “The private school tax credit is a wonderful way to support Jewish education for the children in our community,” explains JTO Executive Director Linda Zell. For tax year 2020 individuals can take up to $1,183 if filing single, and up to $2,365 for married couples filing jointly.
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The deadline for individuals to support the JTO is April 15, 2021 or whenever they file their taxes, whichever comes first. Corporations do not have a maximum limit of support, however the state has a cap on the total amount they allow for the overall corporate tax credit.
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At this time there is approximately $20 million still available for the corporate tax credit. Corporations cannot apply directly for the tax credit, an STO must apply on their behalf. Corporations are approved on a first come first serve basis until the cap is met or June 30, 2021.
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For more information visit jtophoenix.org or call 480-634-4926.