Corporate Tax Credit Program


Since 2009, corporations and insurance companies with a tax liability to the State of Arizona can redirect up to 100% of their liability to a scholarship fund for children with learning disabilities.
This is a dollar-for-dollar credit against the corporation’s Arizona state income tax obligation. Corporations do not have to be headquartered in Arizona, but simply have a tax liability to the State.  This is a tax credit, not a reduction in taxes. 


Please help us identify corporations and insurance companies we can talk with about this program. We have received scholarship grants this year from Philadelphia Insurance and Kitchell Corporation.


Contact Sandy Trudel at New Way Academy by phone 480-946-9112 ext. 106 or by e-mail at trudel@newwayacademy.org.

Corporate Tax Credit Packet

Download the complete packet including details and FAQ's.


Step By Step Instructions

1. Corporation contacts the STO for New Way Academy and shares the amount of donation they want to make.

 

2. President, of Financial Aid for Independent Schools (the STO for New Way Academy) fills out the application form with the following information provided by the corporation:

 

• Name of C-Corporation (S Corporations qualify if they do not pass the credit through to individuals for their tax returns).

 

• Corporate Street Address, City, State and Zip Code as it appears on the Arizona corporate tax return.

 

• Corporate FEIN (Corporate Federal Identification No.)

 

• State whether the donating corporation pays insurance premium tax versus corporate income tax. (Note: Both insurance companies and corporations may qualify for the corporate tax credit).

 

• The amount the corporation is requesting to donate. There is no cap on what the individual corporation may donate, but there is a $5 million cap on collective donations for any one year starting July 1.

 

3. New Way completes the application and sends it to the Arizona Department of Revenue. A faxed response will be given within 20 days to the STO. The request will be approved if the $5 million cap has not been met.

 

4. The STO will immediately notify the corporation that the approval has been made. The corporation has 10 days to get the check to the STO.

 

5. The STO notifies the Arizona Department of Revenue when the check is received.

 

6. STO sends a receipt to the corporation with appreciation and communicates how the gift may be celebrated.