Every year around tax time, Arizonans have the opportunity to give back to the causes that mean the most to them. The Arizona Charitable Tax Credit is a nonrefundable income tax credit for charitable contributions to Qualifying Charitable Organizations (QCOs) like Phoenix Children’s.
How does it work?
Keep your donation receipt so that you have it when you’re ready to file your next income tax return.
When completing your taxes, fill out Arizona Form 321 to claim your tax credit. You’ll need to enter the QCO code for your chosen charitable organization. Phoenix Children’s QCO code is 20551.
How much can I contribute?
The maximum allowable credit for married couples filing jointly is $800.
The maximum allowable credit for single filers is $400.
When is the deadline for making contributions?
• Arizona allows taxpayers to claim their Charitable Tax Credit into April of the current year and have it applied toward their taxes for the prior year.
• For the 2021 tax year, the deadline to contribute is April 18, 2022.
For more details, talk to your tax professional.