By donating through The Georgia Private School Tax Credit Program a parent is granted a tax credit by the state of Georgia – providing a dollar-for-dollar tax CREDIT off of state income tax liability (not just a deduction). http://www.cicmsso.org/process.html
The donor can also take a charitable contribution deduction on their federal return in addition to a tax credit on their state return. Here is how to apply for approval from the State of Georgia to receive the tax credit for your donation to CICM Student Scholarship Organization:
What is the Georgia Private School Tax Credit?
The Georgia Private School Tax Credit is a law that allows people and companies paying Georgia Income Taxes to re-direct their Tax Dollars to private schools and receive dollar for dollar credit off of their Georgia Income Tax Liability making the cost of the donation essentially zero.
In addition to your Georgia income tax credit, if you itemize deductions on your federal income tax return, your donation will be deductible as a charitable contribution for federal income tax purposes.**
If you have technical questions regarding the credit program contact CICMSSO at 404-417-2441.
NOTE: Scholarship money will be distributed by the Christian International Counseling and Ministries (CICM) Student Scholarship Organization not by the Department of Revenue.
Visit www.cicmsso.org for more information.