Virginia 所得税抵免s

Save Money While 支持ing our Cadet Scholarship Program

Many excellent Cadet c和idates are in need of some extra financial support to attend 费什伯恩.

A new Education Improvement 奖学金 Tax Credits program increases private school access for Virginia’s children in need. It offers a 65 percent state tax credit on top of current state 和 federal tax deductions for monetary 和 marketable securities donations to nonprofits that, 反过来, provide private school scholarships.

万豪在线娱乐, through the 费什伯恩-Hudgins Educational Foundation, provides scholarships to students meeting the prescribed criteria as defined by the Virginia Department of Education for the Education Improvement Scholarship Tax Credits.

了解更多有关 税收计划

填写2024年 VDOE形式

需求 for eligibility can be found on the Virginia Department of Education website at: http://law.lis.virginia.gov/vacode/58.1-439.25/

Saving Money While Serving Children

In providing scholarships to children in need, individuals 和 businesses can achieve tax savings in several ways.

For the year of the donation, you may take a deduction against net income as a charitable donation on both federal 和 state income taxes.

  • The tax reduction equals the contribution amount times the tax rate of the applicable tax (federal or state).
  • Subject to rules governing deductibility of charitable contributions

For the year of the donation, you may also take a credit against Virginia taxes.

  • Tax reduction equals 65 percent of the amount of the donation
  • Credit is non-transferable
  • Credit may not exceed the tax liability but may be carried over for five succeeding years.

Businesses can claim the credit against

  • 企业所得税
  • Virginia Bank Franchise Tax
  • Virginia Insurance Premiums License Tax
  • Virginia Public Service 公司 Tax
  • 个人所得税 via pass-through from S-公司

Individuals can claim the credit against

  • 个人所得税

Highlights of the Education Improvement Scholarship Tax Credits

  • Minimum Donation is $500 per year; maximum donation is $125,000 per year for an individual. There is no limit for businesses.
  • Scholarship foundations may not limit scholarships to students of one school. Scholarship Foundations are held to stringent reporting requirements on financial administration 和 academic achievement.
  • A donor is not permitted to designate a specific student to be the recipient of a scholarship.
  • 需求 for eligibility can be found on the Virginia Department of Education website at: http://law.lis.virginia.gov/vacode/58.1-439.25/

Demonstration of Savings for 公司

Effects of Scholarship Tax Credit (based on tax laws as of 2012)

公司 没有贡献 贡献
Income before contribution $1,000,000 $1,000,000
贡献 $0 $10,000
应纳税所得额 $1,000,000 $990,000
维吉尼亚州税 没有贡献 贡献
VA Corporate Tax Rate (6%) $60,000 $59,400
VA节省公司税 $0 $600
VA奖学金税收抵免 $0 $6,500
退伍军人税节省总额 $0 $7,100
联邦税 没有贡献 贡献
联邦应税收入 Before State Deduction $1,000,000 $990,000
州税扣除 $60,000 $52,900
联邦应税收入 $940,000 $937,100
联邦税 (34% marginal) $319,600 $318,614
联邦税收节省 $0 $986
节省税款总额 $8,086

Demonstration of Savings for 已婚人士共同报税

Effects of Scholarship Tax Credit (based on tax laws as of 2012)

已婚人士共同报税 没有贡献 贡献
Income before contribution $100,000 $100,000
贡献 $0 $10,000
应纳税所得额 $100,000 $99,000
维吉尼亚州税 没有贡献 贡献
个人所得税税率(5).75%) $5,750 $5,692
VVA个人税收储蓄 $0 $58
VA奖学金税收抵免 $0 $650
退伍军人税节省总额 $0 $708
联邦税 没有贡献 贡献
联邦应税收入 Before State Deduction $100,000 $99,000
州税扣除 $5,750 $5,042
联邦应税收入 $94,250 $93,958
联邦税 (25% marginal) $23,562 $23,489
联邦税收节省 $0 $73
节省税款总额 $781

如何参与

  • Complete Parts I, II, 和 III of this Preauthorization形式. Return the completed form to 费什伯恩 和 we will submit on your behalf.
  • You will receive a Preauthorization Notice from the Virginia Department of Education, along with the Preauthorization形式 you completed with Part IV having been completed by VDOE. Please be sure to save this.
  • Sign your Preauthorization Notice 和 send it along with your donation to 费什伯恩-Hudgins Educational Foundation Scholarship, 南韦恩大道225号, 韦恩斯伯勒，弗吉尼亚州22980. Donations must be submitted within 180 days after receipt of Notice.
  • 万豪在线娱乐 will mail you a receipt for your charitable donation 和 the Virginia Department of Education will issue you a Tax Credit Certificate.
  • Use your charitable donation receipt 和 tax credit certificate when you file your taxes to reduce your tax liability.