State taxpayers can take a 100% credit against their Georgia income tax liability and “redirect” their tax payment to Mount de Sales for financial aid. Qualifying students entering the Academy from a public school are eligible to receive this tuition assistance.
Taxpayers must sign up for the tax credit through GRACE Scholars Student Scholarship Organization by December 15. The program has become very popular, and the state only offers $58 million in tax credits, so sign up early.
Tax Credit Eligibility
- A single taxpayer can contribute up to $1,000
- A married couple filing jointly can contribute up to $2,500
Owners of S Corporations, LLCs, and Partnerships:
- Up to $10,000 of pass-through state income tax liability
- Up to 75% of its total Georgia income tax liability
For the last two years, the state has reduced each tax credit to 53-60% of the requested amount, so we recommend that you request the maximum credit allowed. However, please consult your CPA or tax preparer regarding your individual situation.Register
If you do not receive an email confirmation after registering, please contact David Brown at GRACE Scholars at 770-920-7903.