Thank you for your interest in this rewarding program. Please scroll down through this introduction to some very important links regarding The Georgia Private School Tax Credit.
Dear Family and Friends of Memorial Day School
During the summer of 2008, the Georgia legislature passed House Bill 1133, thereby establishing a new law which provides exciting possibilities for Memorial Day School and our families. This new law, The Georgia Private School Tax Credit, makes all taxpayers eligible to receive a dollar-for-dollar state tax credit in exchange for their contribution to a state approved Student Scholarship Organization, or SSO. Essentially, all taxpayers are now able to divert all or some of their state income tax payment to scholarships at Memorial Day School. In addition to a state tax credit, your contribution may be utilized as a charitable donation deduction on your federal tax return.
After much research, our school has elected to partner with the Apogee Georgia School Choice Scholarship Fund, an independent 501(c)(3) tax-exempt Student Scholarship Organization, one of only ten throughout the state, to administer the program on Memorial Day’s behalf. Currently, maximum contributions are $2,500 for a married couple filing jointly and $1,000 for individuals. “C” corporations are eligible to contribute up to 75% of their corporate tax liability and receive that amount as a dollar-for-dollar credit on their taxes.
The state has placed a cap on these contributions at $50 million during the 2009 tax year, so we are eager for our constituents to understand the program and the benefits it provides to the Memorial Day School community. The $50 million cap additionally necessitates acting quickly to ensure that the School’s potential scholarship monies are not limited due to a lack of funds from the state. We encourage and appreciate your participation, and thank you in advance for assisting us in making it the success that we are confident it will be. This program applies to any individual paying Georgia state taxes, regardless of school affiliation, so your help is also appreciated in communicating this information to others who might be interested in diverting some of their tax payments to Memorial Day School.
Again, we thank you for your consideration of this program and for helping us in this exciting effort. Attached, you will find answers to frequently asked questions about the Georgia Private School Tax Credit as well as step by step instructions on the process. If you have additional questions, please do not hesitate to contact Memorial Day School Director of Development Mark Sussman at email@example.com ; or our representative at Apogee, John Panessa, at firstname.lastname@example.org
Thank you for your continued support of and commitment to Memorial Day School.
Mark A. Sussman
Director of Development
Step by Step Instructions
Print and complete Form IT-QEE-TP1
Retain a copy of the completed form and deliver the original to the Memorial Day School business office, attn: Jill Willcoxon. Memorial Day School will file this form with the Georgia Department of Revenue on your behalf.
Until approval is received, no payment is required; however, upon receipt of approval from the DOR, an individual should immediately deliver to the Business Office – a check made payable to
The Apogee Georgia School Choice Scholarship Fund.
Please also include a copy of your approval Form IT-QEE-TP1. Also, please remember to designate Memorial Day School in the memo section of your check.
The Memorial Day School business office will send the check and the approved form to Apogee.
Apogee will then send you required form IT-QEE-SSO1 to serve as confirmation.
Please note that in order to claim the Qualified Education Expense credit, you must submit both the Form IT-QEE-SSO1 as well as the approved Form IT-QEE-TP1 with your Georgia state tax return.