Taxation, Nonprofits, and Arizona Tax Credits

If you saw the book list I created last month regarding taxation, you may recall that I mentioned taxation and how tax laws relate to nonproft organizations. In this regard, you're no doubt familiar with the Arizona Tax Credit laws. From the Arizona Department of Revenue website, opens a new window, the AZ Tax Credits for Qualifying Organizations laws are briefly defined as, "...donations to Qualifying Charitable Organizations and for donations to Qualifying Foster Care Charitable Organizations. Individuals making cash donations made to these charities may claim these tax credits on their Arizona Personal Income Tax returns". 

The deadline for making a qualifying tax credit contribution is April 15th. Whether you're an individual contributor, or a part of one of the state-approved qualifying organizations (or both of those!), be sure to take advantage of this worthwhile tax program. If you're wondering which specific Pima County area nonprofits you may donate to for AZ tax credit, the comprehensive list  of approved organizations may be viewed/downloaded here (the list is taken from the Arizona Department of Revenue's website).

If you are a nonprofit that would like to benefit from participating in this endeavor, you may apply for certification by following the steps outlined here. Of course, it's too late to be added to the list for 2019, but if you begin the application process now, you should be able to be included on the list for 2020.