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Taxpayers filing as single and unmarried head of household can receive a maximum credit of $200. Married taxpayers filing a joint return can receive a maximum credit of $400. A charitable tax credit reduces your Arizona tax liability dollar-for-dollar.
St. Mary’s Food Bank Alliance is a qualifying 501(c)(3) nonprofit because it devotes almost all of its budget to serving low income Arizona residents.
To take advantage of the Arizona state tax credit, a taxpayer must itemize deductions and deduct charitable contributions on the Arizona state income tax return at least one in order to establish a baseline year and amount. The credit is figured based on the amounts over and above the baseline amount. If a taxpayer itemized deductions and deducted charitable contributions in 1996, that is the baseline year. The baseline amount is the total dollar amount of charitable contributions deducted on Schedule A. For example, if a taxpayer deducted a total amount of $500 in charitable contributions in 1996, that is the baseline amount.
If a taxpayer did not itemize deductions in 1996, then the baseline year is the first taxable year after 1996 that the taxpayer itemized deductions.
Also, the Charitable Tax Credit can be recognized in addition to other Arizona tax credits, such as energy, conservation and school tuition. Taxpayers must file Arizona Form 321 with their state tax return to claim the credit.
A donation to St. Mary’s Food Bank Alliance must be made by December 31, 2007in order to apply the contribution to a person’s 2007 taxes.
For more information about the Arizona Charitable Tax Credit, ask your tax advisor or visit the Arizona Department of Revenue website: www.azdor.gov. and search for charitable tax credit.
Donations can be made online by clicking here.
Or, call in and make a donation with your credit card at (602) 343-3144.
You can also mail your contribution, payable to St. Mary’s Food Bank Alliance, to:
St. Mary’s Food Bank Alliance
2831 N. 31st Avenue
Phoenix, AZ 85009
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