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 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.
-
Florida Tax Credit Scholarship Program for Motor Vehicle Sales Tax Credit
-
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 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.
