Arizona has a unique tax credit available for certain qualifying charities, which reduces an individual’s personal tax liability by the amount of the donation given to the charity of their choice. This wonderful credit lets the taxpayer decide where their tax money goes, instead of paying it to the Arizona Department of Revenue.
It is an individual income tax credit available for contributions made to Qualifying Charitable Organizations (QCO) that provide immediate basic needs to residents of Arizona who receive temporary assistance for needy families (TANF) benefits, are low-income residents of Arizona, or are individuals who have a chronic illness or physical disability.
What is the deadline to contribute to claim the credit?
Contributions made on or before the 15th day of the fourth month following the close of the taxable year (April 15th) may be applied to either the current or the prior taxable year. If claiming the credit for the prior year the contribution is considered to have been made on the last day of that taxable year.
How do I claim the credit on my Arizona Tax Return?
The credit is claimed on the individual’s personal income tax return using Form 321. Each qualifying Charitable Organization has its own identifying five (5) digit QCO code and you must use the QCO code to claim the tax credit for contributions made to a qualifying charity.
You can see the list of Qualifying Charities on the AZ Department of Revenue website https://azdor.gov/tax-credits/contributions-qcos-and-gfcos
What is the QCO code for Greater Vail Community ReSources?