2019 CHANDLER COMPADRES ARIZONA QCO TAX CREDIT
About the QCO
Arizona tax law provides a tax credit for contributions made to Qualifying Charitible Organizations (QCO) providing assistance to underprivileged members of the community. For 2019, the maximum amount of this credit is $800 for married taxpayers and $400 for single individuals. The Chandler Compadres, acting as an umbrella organization, directs your tax credit donation funds to local charities, including the Boys & Girls Clubs of the East Valley, AZCEND, ICAN, Fans Across America, Chandler Care Center and Arizona Brainfood – supporting Chandler Service Club Weekenders Program and other qualifying charitable organizations. The Chandler Compadres is a non-profit organization that has been helping Valley youth and community programs for over 30 years. The group has raised in excess of over $10 million since its inception and has donated those proceeds to benefit charities and organizations that strive for the betterment of Valley youth and academic programs.
How the Tax Credit Works*
Anyone who pays state taxes may be eligible for the tax credit, which is not the same as a deduction on your income tax form. For example: if you owe $1,000 in state income tax, and you donate $800, you may subtract the $800 from your tax bill and pay the state only $200. You can even use your $400 donation as a federal income tax deduction.
Other Arizona Tax Credits
The Arizona QCO Tax Credit can be taken in addition to the Private and Public School Tax Credits offered by Arizona. For example: Joe and Mary Taxpayer, a married couple, donate $800 to a private school tuition organization, $300 to a public school for the extracurricular activities credit and $800 to the Chandler Compadres QCO Tax Credit Program. Joe and Mary owe $2,000 in 2018 state income taxes. The tax credits noted above reduce their tax liability by the combined amount of $1,900, and lower their Arizona tax liability to $100.* * Tax circumstances are different for everyone. Please consult your tax advisor.
If you make your donation to the Chandler Compadres Arizona QCO Tax Credit by credit card online, it must be received by April 15, 2020. If you donate by check in the mail, your contribution must be postmarked by April 15, 2020.