Each year Calvary Day School partners with the Georgia GOAL Scholarship Program, a Student Scholarship Organization (SSO) created through the Georgia Education Expense Tax Credit Program. This program enables Georgia residents, corporations, trusts, LLCs, and partnerships the opportunity to designate a portion of their state tax liability to the school's financial aid program. Redirecting some of your state taxes to provide tuition assistance to financially eligible students is a gain for taxpayer donors, scholarship recipients, and our school community. By contributing to Georgia GOAL for a 100% Georgia income tax credit with dollars you must spend anyway, you will help maximize financial aid for families desiring to receive a Calvary Day School education. Your support has a tremendous impact on our ability to provide financial aid to students and families in need.
2. GOAL Submits to Department of Revenue on your belhalf
GOAL submits your 2022 application on the first business day of January 2022.
3. Approved to Contribute
GOAL and DOR notify you of the approved tax credit amount and payment deadline within 30 days of submission.
4. Make Payment
Pay GOAL by check or credit card within 60 days of DOR approval.
5. Take the Credit
GOAL will send you Form IT-QEE-SSO1 (tax receipt) for claiming the credit on your Georgia income tax return (Note: you will take the credit on the income tax return for the year in which you make the payment).
Tax Credit Limits Based on Filing Status:
· Single individual or head of household – up to $1,000
· Married couple filing a joint return – up to $2,500
· Married couple filing separate returns – up to $1,250
· S corporation shareholder, LLC member, or partnership partner – up to $10,000
· NEW Opportunity for 2022: S corporation, LLC, or partnership that elects to pay tax at the entity level – up to 75% of Georgia income tax liability