In the face of
overcrowding and severe budget concerns, Georgia had to find a way to reduce
the number of students in its public schools. In order to do this, the Georgia
Goal Scholarship Program was instituted. The state has set aside $51 million annually in
state tax credits to allow taxpayers to redirect a portion of their own state
taxes to support scholarships at private schools of their choosing through the
use of qualified education expense credits. Any Georgia
taxpayer, C-corporation, or trust can participate and contribute their tax dollars and
receive a 100% state tax credit up to $2,500 for a married couple filing
jointly, or up to 75% of the C-corporation or trust's tax liability, to fund scholarships at the school of
their choosing. Once the cap is
reached each year, no further contributions will be accepted. If you have a school you wish to support and would
like to redirect your state tax dollars, you can visit the link here to
learn more. Contact your school
administrator to find out if they are involved.
Steven Voynich, CPA
