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GOAL Tax Credit

Redirect Georgia State Income Tax Liability to Assist TCS Students:

History

In 2008, the Georgia General Assembly passed and Governor Sonny Perdue signed into law, HB 1133, legislation that permits Georgia taxpayers to receive a state income tax credit for amounts contributed to qualified Student Scholarship Organizations (“SSOs”).  The scholarships are awarded to students who are enrolled in a Georgia secondary or primary public school or who are eligible to enroll in a kindergarten or pre-kindergarten program.  Recipient students use their GOAL Scholarships to attend the private K-12 schools of their parents’ choice.

In response to this new law, Georgia GOAL Scholarship Program, Inc. submitted notice to the Georgia Department of Education of its participation as an SSO under HB 1133.  On June 26, 2008, the Georgia Department of Education recognized the Georgia GOAL Scholarship Program, Inc., a 501(c)(3) tax-exempt organization, as an SSO that is approved to accept contributions and offer scholarships to students to attend private K-12 schools in Georgia.

In 2009, donors contributed $10,609,000 to Georgia GOAL Scholarship Program, Inc., making GOAL Georgia’s leading SSO.  Of this amount, approximately $9.9 million in scholarships were provided to deserving students attending the 107 private schools that have chosen to participate in the GOAL Scholarship Program. (http://www.goalscholarship.org). The amount has steadily grown; in 2012, all available tax credits (over $51Million were claimed by August.

The Cottage School has partnered with GOAL to enable interested tax payers to redirect a portion of their state tax liability to assist students attending—or wishing to attend—TCS.

For information on your redirection of Georgia State Income Tax, please contact Bob Crenshaw, bobc@cottageschool.org.

It’s easy to participate!

Visit this link to take advantage of GOAL’s Paperless Application Process.

If you wish to mail the forms, please follow these directions:

Send the following items directly to Georgia GOAL Scholarship Program, Five Concourse Parkway, Suite 200, Atlanta, GA 30328:

  1. A completed GOAL Contribution Form  
  2. A copy of page 2 of Form IT-QEE-TP1 pre-approval form, signed by you at Part C
  3. A check made payable to “Georgia GOAL Scholarship Program, Inc.” or credit card payment in the amount of your contribution (your payment will be deposited only when GOAL receives your Approval Letter from the DOR) dated January 1, 2013 or later.

GOAL officials will obtain Georgia Department of Revenue approval for you to allow the redirection of your taxes to GOAL.  Your paperwork and check will then be processed, whereupon GOAL will send you an acknowledgement letter and tax receipt.

Please note: the Georgia Department of Revenue will also send you a copy of your Approval Letter.  If you have already made your payment to GOAL, no further action is required on your part.

Step 2. Claim the credit

When you file your income tax returns for 2013, you will receive a credit against your Georgia income taxes and a charitable deduction on your federal income taxes for your contribution to GOAL. You may still file your returns electronically if you elect to take this credit.

  • GOAL will send you a Form IT-QEE-SSO1 contribution acknowledgement form to be filed with your taxes
  • GOAL will send taxpayer filing guidance early next year and/or will post taxpayer filing guidance on its website

Timing / Deadline

To participate in this program and qualify for a 2013 tax credit, your payment must be postmarked and on its way to GOAL by December 31.  However, the sooner you contribute the better, as the cap on tax credits is expected to be met by July, 2013 this year.  Thank you for helping deserving students to attend The Cottage School.