GaSSO Tax Credit Form Confirmation
You are about to submit a GaSSO tax credit application as owner of a pass-through entity. Per recent Georgia legislation (HB 149), effective January 1, 2022, pass-through businesses are able to elect to pay Georgia income taxes (at 5.75%) at the business entity level and take a federal income tax deduction for the Georgia income taxes paid. This enables the owners to avoid the $10,000 federal limitation on the deductibility of state income taxes.
HB 149 specifically provides that the electing pass-through business can take the Georgia GaSSO credit as an "other entity" in amount up to 75% of the entity's Georgia income tax liability. If, after consulting with your tax advisor, your business plans to make this election for 2022, sign in to edit your pledge. and select the "C Corp" option, whereupon you may apply for a GaSSO contribution amount up to 75% of your entity's 2022 Georgia income tax liability.
GaSSO Tax Credit Form Confirmation
You are about to submit a GaSSO tax credit application as owner of a pass-through entity. Per recent Georgia legislation (HB 149), effective January 1, 2022, pass-through businesses are able to elect to pay Georgia income taxes (at 5.75%) at the business entity level and take a federal income tax deduction for the Georgia income taxes paid. This enables the owners to avoid the $10,000 federal limitation on the deductibility of state income taxes.
HB 149 specifically provides that the electing pass-through business can take the Georgia GaSSO credit as an "other entity" in amount up to 75% of the entity's Georgia income tax liability. If, after consulting with your tax advisor, your business plans to make this election for 2022, sign in to edit your pledge. and select the "C Corp" option, whereupon you may apply for a GaSSO contribution amount up to 75% of your entity's 2022 Georgia income tax liability.
GaSSO Tax Credit Form Confirmation
You are about to submit a GaSSO tax credit application as owner of a pass-through entity. Per recent Georgia legislation (HB 149), effective January 1, 2022, pass-through businesses are able to elect to pay Georgia income taxes (at 5.75%) at the business entity level and take a federal income tax deduction for the Georgia income taxes paid. This enables the owners to avoid the $10,000 federal limitation on the deductibility of state income taxes.
HB 149 specifically provides that the electing pass-through business can take the Georgia GaSSO credit as an "other entity" in amount up to 75% of the entity's Georgia income tax liability. If, after consulting with your tax advisor, your business plans to make this election for 2022, sign in to edit your pledge. and select the "C Corp" option, whereupon you may apply for a GaSSO contribution amount up to 75% of your entity's 2022 Georgia income tax liability.
Wait! Are you sure you want to lower your pledge amount?
Remember, there is NO OBLIGATION to fund the entire amount.
You will NOT be able to reapply.
This will result in a reduced scholarship balance for your school.
See our FAQ and the video on the homepage for more information