Frequently Asked Questions
What are the tax credit donation limits?
Married couple filing jointly:$2,500
Pass-through entity partners or stockholders: 6% of GA taxable income from pass-through entity up to $10,000.
C-Corporations: Up to 75% of the corporation's Georgia tax liability
Should I give now or wait until the end of the year?
You should plan to apply for the tax credit prior to current year end. The tax credit is capped at $100 million for 2019 and it is expected that the cap will be met on January 1, 2019. The SSO For GA can apply for the credit on your behalf. Please send a confirmation to firstname.lastname@example.org with the amount you wish to redirect.
Why is the contribution called a "REDIRECTING" of tax dollars?
It is simply terminology, but each Georgia taxpayer does have the option of sending their tax dollars to the Georgia Department of Revenue or REDIRECTING those same funds to a Georgia approved SSO such as the SSO for GA. Donors ARE going to spend the monies one way or the other and the SSO for GA is simply asking for you to send those dollars to our SSO instead of to the Department of Revenue.
Can I reduce my quarterly estimated tax payments or payroll tax withholdings?
Yes, however we suggest you consult your tax advisor. You will certainly receive the benefits of your tax credit when you file your tax return.
If I itemize deductions, can I take a charitable income tax deduction on my federal income tax return for the amount of the contribution to SSO for GA?
Yes. However, taxpayers must add back to Georgia taxable income that part of any federal charitable contribution deduction taken on a federal return for which a Georgia Qualified Education Expense Credit is allowed. Please consult your tax advisor for more information.
What is the deadline for making contributions that qualify for the credit?
You will have 60 days from the date you are granted the tax credit approval by the state to send your check to the SSO for GA. Remember, the SSO for GA can submit the tax credit approval application on your behalf. Please click on Donate above, print and complete the attached tax credit approval application, and return it to the SSO for GA prior to the end of the current year. The available tax credits will all be claimed on January 1 and thus it is imperative that we submit the request on your behalf on this day.
Can I designate that my contribution provide a scholarship to a particular STUDENT?
No. You may not direct your contribution to a particular individual. The SSO for GA scholarship committee reviews applications and selects recipients based on academic merit.
What students are eligible under the law to receive financial assistance from the SSO for GA?
Per the legislation of O.C.G.A. 20-2A-1 thru 20-2A-7, eligible students must be Georgia residents enrolled in a Georgia secondary or primary public school or eligible to enroll in a qualified kindergarten program or pre-kindergarten program.
After a recipient student's first SSO for GA scholarship year, will he or she automatically receive SSO for GA funding each subsequent year that he or she is enrolled in a qualified school?
Yes. SSO for GA scholarships are awarded for the duration of a student's enrollment at his or her qualified school of choice. However, the amount of the SSO for GA scholarship received in each year is determined annually based on the contributions received. O.C.G.A. 20-2A-1 thru 20-2A-7 requires that 93% of all contributions received from redirected tax credits be allocated to scholarship.
How do I make a donation and get approved for a tax credit?
Student Scholarship Organization for Greek Americans
5885 Glenridge Drive
Atlanta, GA 30328