“C” Corporations are able to redirect 50% of their Alabama state tax liability to Scholarships for Kids and receive a dollar-to-dollar tax credit in return, and there is no maximum!
The Alabama Accountability Act currently establishes an annual $30 million statewide limit on the tax credits. The credits are awarded on a first-come, first-served basis, and may be carried forward for 3 years.
In all cases, please consult with your tax advisor. If you have questions or need assistance making your gift, please contact Mary Claire McDougald at (205)769-0278 or email@example.com.