Porter Academy Friends and Family,

 

A new law has been passed that provides exciting possibilities for Porter Academy and its families.  Under the new Georgia Private School Tax Credit, all taxpayers are now eligible to receive a dollar-for-dollar state tax credit in exchange for their contribution to a state-approved Student Scholarship Organization, or SSO. This allows for every taxpayer to divert some or all of their state tax payment for 2010 to Porter Academy scholarships at no cost to you.  This fund benefits families in need of scholarships.  In addition to a state tax credit, your contribution can also be utilized as a charitable contribution deduction on your federal return. You can learn more at the Georgia Department of Education website:

http://www.doe.k12.ga.us/pea_policy.aspx?PageReq=PEAHB1133

 

After careful research, we have opted to partner with Great SSO, Inc., a Georgia 501©3 Student Scholarship Organization, to administer the program on our behalf.  Maximum contributions are $2500 for married filing jointly and $1000 for individuals.  C-Corporations can contribute up to 75% of their corporate tax liability and receive that amount as a dollar-for-dollar credit on Georgia taxes.

 

Once pre-approval forms have been submitted and approval is granted, a check then must be submitted within 30 days.  The state has placed a cap on the amount of funds that can be contributed during the 2010 tax year, so pre-approval must be received prior to donating.

 

We are looking to the Porter Academy community to support this program and help make it the success we know it can be.  This program applies to all individuals or corporations paying GA state taxes, so you can also help by providing this information to others who might be interested in diverting some of their tax payments to Porter Academy.

 

Thank you for your continued support of and commitment to Porter Academy.

 

Sincerely,

  Claudia Porter

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FIVE STEPS TO HELPING OUR STUDENTS:

1.       Download and fill out Georgia Form:  IT-QEE-TP1

2.       Complete and mail to:

Georgia Department of Revenue

Qualified Education Expense Credit

1800 Century Blvd. NE

Suite 8301

Atlanta, GA  30345

3.       Within 30 days of approval, make  *check payable to and send to:

Great SSO, Inc.

3245 Peachtree Parkway

Suite D-305

Suwanee, GA  30024

NOTE - *must write Porter Academy in memo section of the check*

4.       The SSO, Great, Inc. provides the donor with completed tax forms to be filed with return.

5.    Tell others and help a child in need.