The Georgia Department of Revenue (DOR) has announced that the adjusted Qualified Education Expense Credit cap for the 2012 calendar year is $51.5 million. That represents a 3% increase from 2011, based on growth in the Consumer Price Index. As of January 20th, the DOR has already pre-approved over $1.7 million in requested credits, including more than $1 million from donors to Arete Scholars Fund.
In addition, the DOR has introduced a new online tool that simplifies the process for Georgia taxpayers to apply for a Qualified Education Expense credit. The secure solution, available via the Georgia Tax Center (GTC) website, will also enable student scholarship organizations like Arete Scholars Fund to apply for a credit on behalf of donor partners. The mail-in option will remain available for credit requests.
"We are excited about the adjusted cap for 2012 and the new online pre-approval process," said Derek Monjure, executive director at Arete Scholars Fund. "The changes represent significant improvements to the program. More Georgia parents will be empowered with choice, some for the first time, and participation will be made easier for donors."
Detailed instructions about how to enroll in and use the online credit pre-approval process can be found at the following links:
For registered Georgia taxpayers
For new Georgia taxpayers
For more information about making a tuition tax credit contribution to Arete Scholars Fund, please call 404.946.8450.
Mon, January 30, 2012
by Arete filed under