Scholarship-Funding Organizations – Tax Credits for Contributions
Florida offers a dollar-for-dollar credit against specific Florida taxes to businesses and individuals making voluntary contributions to
eligible nonprofit scholarship-funding organizations. The purpose of these tax credits is to:
- Allow private, voluntary contributions to nonprofit scholarship-funding organizations;
- Expand education opportunities for children from families that have limited financial resources;
- Allow students subject to violence or bullying at school to apply for transportation to another school or to attend an eligible
private school; and,
- Enable children to achieve a greater level of excellence in their education.
To learn more about these programs, visit:
- Florida Sales Tax Credit Scholarship Program for Commercial Rental Property
- Authorizes the tenant of commercial rental property to make private, voluntary contributions to an eligible nonprofit
scholarship-funding organization and receive a credit against the state sales tax due on rent or license fees for the property.
- Hope Scholarship Program
- Allows the purchaser or owner of certain motor vehicles to designate the lesser of $105 or the state sales tax due at the time
of purchase or registration to an eligible nonprofit scholarship-funding organization participating in the Hope Scholarship Program.
- Florida Tax Credit Scholarship Program
- Allows taxpayers to make private, voluntary contributions to eligible nonprofit scholarship-funding organizations and receive a
dollar-for-dollar credit against the following Florida taxes:
- corporate income tax;
- excise tax on liquor, wine, and malt beverages;
- gas and oil production tax;
- insurance premium tax; and
- sales and use tax due under a direct pay permit.