Tax Credit Program
Georgia Private School Tax Credit Program
*GEORGIA GOAL WILL BE ACCEPTING APPLICATIONS THROUGH DEC. 15, 2022.
MAKE A WIN-WIN IMPACT: REDIRECT YOUR GEORGIA TAX LIABILITY TO FINANCIAL assistance AT GALLOWAY
Individuals and Corporations (partners in partnerships, LLC owners, and shareholders of S-Corps) paying Georgia taxes are eligible for a dollar-for-dollar credit on state income taxes. Every year, the Georgia Private School Tax Credit Program, combined with support from Galloway’s endowment and Annual Fund dollars, plays a critical role in the School’s overall financial assistance initiatives. Your participation in this program makes a substantial impact on the School's ability to enroll bright, motivated, and curious students regardless of their family's ability to pay full tuition.
Galloway partners with Georgia GOAL, the state’s leading Student Scholarship Organization (SSO). GOAL works with 166 independent schools throughout Georgia and has awarded tuition assistance to more than 21,744 deserving students since the program’s 2008 inception. Currently, 36 Galloway students receive financial assistance through tax credits. Because of the popularity of the program, applications for a 2023 tax credit must be submitted by December 15, 2022. To submit your application for this program, please visit www.goalscholarship.org.
Please note that the Georgia Private School Tax Credit Program provides an opportunity for participants to redirect tax liability already owed to the State of Georgia to a restricted priority (financial assistance), at a favorite independent school. Participation in the program, therefore, is not related to participation in the Galloway Annual Fund.
The maximum redirections by filing method are:
|Filing Status||Contribution Level|
|Individual Filer||Up to $1,000|
|Married Filing Jointly||Up to $2,500|
|Married Filing Separately||Up to $1,250|
|Partnership, LLC, S-Corp||Up to $10,000|
|C-Corp or Trust||Up to 75% of annual Georgia income tax liability|
How to Contribute and Take the Tax Credit
- Apply Now (anytime from June 2022 – December 15, 2022)
Complete the 2023 GOAL Tax Credit Application today athttps://www.goalscholarship.org/for_donors/tax_contribution_type.asp.
- GOAL Submits to DOR.
On the first business day of January 2023, GOAL submits your application to the Georgia Department of Revenue (DOR).
- Approved to Contribute.
GOAL and DOR notify you of tax credit approval and amount in early January 2023.
- Make Payment.
Pay GOAL by check or credit card within 60 days of DOR approval (mid-March 2023).
- Take the Credit.
In May, GOAL will send you a Form IT-QEE-SSO1 (tax receipt) for claiming the credit on your 2022 Georgia income tax return (Note: you will take the credit when you file your 2023 taxes in April of 2024.)