You already pay state taxes – why not allocate a portion of your taxes, you are already paying, to go directly to Holy Spirit Prep’s financial assistance program? Never participated? Check with your accountant today on how this tax credit can benefit your 2023 tax liability!
GOAL is a state tax credit program that allows Georgia taxpayers to redirect a portion of their state tax liability to a private school of their choice. This contribution gives a dollar-for-dollar credit towards your state tax liability. With these funds, private schools are able to provide tuition assistance for qualified students. LLC's, S-Corps, Partnerships - The owners of pass-through entities can now receive a Georgia income tax credit for up to $25,000.
Join us in supporting Holy Spirit Prep with your tax credit contribution!
For 2023, the Georgia legislature increased the Georgia Education Expense Credit Program from $100 million to $120 million statewide. Lawmakers also doubled the limits from $1,250 to $2,500 for individuals and $2,500 to $5,000 for married couples filing jointly. Limits for pass-through entities are now $25,000, and “C" corporations may allocate up to 75% of their state tax liability. Given the increased limits, it is anticipated that the statewide limit will be reached immediately after January 1, 2023, and the program will be closed for next year. To be sure your pledge is submitted on a timely basis in the new year, it is suggested that you make your pledge no later than December 15, 2022.
Make your 2023 pledge today; no payments due until March 2023!Once your contribution has been processed, you will receive a tax receipt from GOAL. Attach the receipt to your 2023 state tax return.
Sign up for your credit here
If you have questions, please contact Ed Festa at efesta@holyspiritprep.org or 678-904-2811.
