A tax credit is a dollar for dollar credit on your taxes, not a deduction.
In other words, you can pay Arizona State Income Tax or make a voluntary contribution to Veritas Academy of Tucson through a School Tuition Organization.
School Tuition Organizations are qualified nonprofit groups set up to accept contributions used to provide scholarships for students to attend private schools.
Every Arizona tax filer who makes a voluntary contribution to to a School Tuition Organization will receive a STATE TAX CREDIT for their contribution. This means that you will receive a dollar-for-dollar return for your donation, up to $1000.00 for married couples filing a joint return, and $500 for a single person.
The donation can be directed for a specific student or for the school in general. For more information, visit the Institue For Better Education (IBE) or the Arizona Christian School Tuition Organization (ACSTO).