In 2020-21, the State of Georgia will set aside $100 million in available credits that can be redirected to any independent school in the state on a first come, first serve basis. Individuals and corporations will receive a Georgia income tax credit (and federal income tax deduction) for redirecting their state income tax payments to Georgia Student Scholarship Organizations (SSOs).The additional financial aid funding created by the GTCP frees up High Meadows School’s operating budget for other important initiatives. As a result, every High Meadows School student is positively impacted.
The $100 million cap is expected to be met January 1, so you must preregister TODAY to reserve your tax credit (consider this a “pledge,” as your actual payment will be made sometime between January and March 2021).
The amount you can redirect is limited by your tax filing status:
Tax Credit Limits Based on Filing Status
- Single individual or head of household – up to $1,000
- Married couple filing a joint return – up to $2,500
- Married couple filing separate returns – up to $1,250
- S corporation shareholder, LLC member, or partnership partner – up to $10,000
- C corporation or Trust – up to 75% of annual Georgia income tax liability
Please contact Angela Lockard with any questions. Thank you for your support of High Meadows School!