Frequently Asked Questions
How does the donation to a school tuition organization affect a taxpayer’s declaration of estimated tax?
Taxpayers are generally required to pay quarterly declarations of estimated tax if the taxpayer’s income tax liability is expected to exceed their credits, including withholdings, allowable against income tax liability. Taxpayers who donate to a school tuition organization are allowed to factor in the presumptive credit related to such donation when calculation the declaration of estimated tax. The nonrefundable income tax credit a taxpayer presumes they will receive for the donation to a school tuition organization will reduce the declaration payments due quarterly.