Sentences with phrase «state tax liability»

By donating the $ 500, the taxpayer has both saved $ 500 in state tax liability and obtained a federal charitable contribution deduction of $ 500.

But if the state issued a dollar - for - dollar state tax credit for charitable contributions made to, say, the state's general infrastructure fund, the first $ 6,000 donated, though reducing state tax liability by $ 6,000, does nothing to lower federal taxes owed because the taxpayer would still take the standard deduction.

Corporations or individuals can offset state tax liability by donating to a private, nonprofit scholarship organization.

Enacted in 1997 and the nation's longest running scholarship tax credit program, the Individual Scholarship Tax Credit Program provides all Arizona taxpayers the opportunity to contribute directly to a School Tuition Organization (STO) and receive a dollar - for - dollar tax credit against their Arizona state tax liability.

Of the ten corporate STC programs, only Arizona, Florida and Georgia offer 100 % credits, and Georgia's credit is capped at 75 % of the donor's total state tax liability.

These tax credits are available to anyone in Georgia with state tax liability.

You would get a receipt (or have the food pantry sign a special form) and then you'd use that to take $ 250 off of your Missouri state tax liability.

Alternatively, a household that has an unusually large amount of deductions (e.g., for a significant charitable contribution, or perhaps paying a large outstanding state tax liability balance from the prior year?).

Are eligible to reduce your federal and state tax liability through the federal investment tax credit;

But each additional dollar contributed beyond the $ 6,000 saves the taxpayer $ 1.28 — one dollar in state tax liability, and twenty - eight cents from the federal charitable contribution deduction now obtained by itemizing.

Lexie's Law allows corporations to redirect their Arizona state tax liability to help fund scholarships specifically for children in Preschool — 12th grade with special needs, children in foster care or adopted from foster care.

Your state tax liability depends on where you earn your living, not on the location of the headquarters of the company that pays you.

In order to make this determination, a recipient should estimate his or her state tax liability for the current year.

Several states are devising schemes to allow residents to pay some of their state tax liability as a gift to a charitable fund rather than directly to the state government, restoring its deductibility.

Several states are devising schemes to allow residents to pay some of their state tax liability as a gift to a charitable fund rather than directly to the state...

We'll call this Option A. However, if John goes with Option B by making a $ 10,000 donation to a scholarship organization and taking a 100 percent credit, he will reduce his state tax liability to $ 0, and then he can deduct his donation from his federal taxable income.

Here's how it works: Donors to these scholarship funds can offset their state tax liability by 70 to 100 cents for every dollar given.

This report analyzes savings from tax - credit scholarship programs, which allow individuals and businesses to reduce their state tax liability by making a private donation to a nonprofit organization that provides scholarships for children to attend private schools of their choice.

They also must have a state tax liability of at least $ 250 because the credit is nonrefundable and, thus, can not reduce an individual's tax burden to less than zero.

Tax - credit scholarships allow individuals and businesses to reduce their state tax liability by making private donations to a nonprofit organization that in turn provides scholarships for children to attend private schools of their choice.

Tax - credit scholarships allow individuals and businesses to reduce their state tax liability by making a private donation to a nonprofit organization that provides students scholarships to attend private schools of their choice.

Talbot introduced his proposal last year as an income tax credit to allow contributors to reduce their state tax liability by the amount of money they give to the tuition - granting organization.

When passed, individuals and businesses could contribute money to either a 501 (c) 3 tuition assistance organization or to the Commonwealth School Improvement Fund and receive a tax credit to offset their state tax liability.

Corporations can allocate an amount equal to all or part of their state tax liability to a private scholarship - granting organization.

I also assumed everything was taxable with no other taxable income and used California numbers for the state tax liability.

You actually get to write off that in the year that you pay for the bill, which is why a lot of folks were pre-paying their state tax liability in December.

«The Safe Harbor comes at no cost to taxpayers, as the tax credit is not a state appropriation, but rather it allows North Carolina companies and individuals to reduce their state tax liability if they choose to make investments in new clean energy projects in our monopoly - controlled energy market,» said Allison Eckley, NC Sustainable Energy Association's communications manager.

South Carolina offers a state tax credit of 50 % of your state tax liability up to $ 3,500 to be claimed as a tax deduction for installing solar.

There is a 25 % tax credit up to $ 3,500 or 50 % of your state tax liability whichever one is the least.

South Carolina also has a state tax credit of 25 % of the purchase and installation cost up to $ 3,500 or 50 % of your state tax liability.

South Carolina also allows you to claim up to $ 3,500 or 50 % of your state tax liability (whichever is least) as a state tax deduction when you install solar.

South Carolina has a state tax credit of 25 % of the purchase and installation cost up to $ 3,500 or 50 % of your state tax liability together covering about 50 % of the total system cost.

A new bill submitted to the Arizona Senate would, if approved, allow people to pay their state tax liabilities using bitcoin or other cryptocurrencies.

A new bill submitted to the Arizona Senate would, if approved, let people pay their state tax liabilities using bitcoin or other cryptocurrencies.

Also last month, a bill submitted to the Arizona Senate would, if approved, let people pay their state tax liabilities using bitcoin or other cryptocurrencies.