Individual Ohio taxpayers filing form IT-1040 can receive a dollar-for-dollar reduction in their Ohio tax liability via a non-refundable tax credit for monetary donations made to eligible Ohio scholarship granting organizations (SGOs). The tax credit equals the lowest of the following:
- $750 ($1,500 if filing jointly);
- the total amount donated to the SGO during the tax year; or
- your Ohio income tax liability before any refundable tax credits.
Beginning this year, the SGO tax credit may also be claimed for donations made on or before the unextended tax return due date (April 15, 2024 for tax year 2023), but the same contribution cannot be used to claim the credit in two tax years.
There are currently 43 certified SGOs in Ohio. The Ohio Attorney General maintains a list of certified SGOs on their website: https://charitable.ohioago.gov/Scholarship-Granting-Organization-Certification/List.
Some SGOs may serve a single school, while other SGOs may serve a group of schools. For example, the Emmaus Road Scholarship (www.emmausroadscholarship.org) services all primary and secondary Catholic schools in the Diocese of Columbus.
Although you may be able to designate a specific school when donating to SGOs serving a group of schools, you cannot designate your gift to a particular student.
If you do choose to donate to an SGO, please keep a record of your donation, as supporting documentation will need to be included with your Ohio income tax return.
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