Pass Through Taxpayers

WHO QUALIFIES?

  • Members of an LLC
  • Shareholders in an S-Corporation
  • Partners in a Partnership
  • Qualified taxpayers with income from any of the above entities is eligible to participate

BENEFITS

  • $25,000 maximum per year for each member, shareholder, or partner
  • Receive a Dollar-for-Dollar Georgia tax credit
  • Reduces pass-through taxpayer’s Georgia tax liability by the amount of the approved and funded contribution which can be then applied to quarterly estimated tax liability payments
  • Married filing joint couples with co-ownership in an entity can each secure $25,000 in Georgia tax credit for a total of $50,000
  • The amount paid to a tax credit charity can be claimed as a business expense deduction so long as the taxpayer reasonably believes that this expenditure will generate good will in the community
  • Make a significant impact by supporting financial assistance at your chosen private school with dollars already being allocated towards Georgia tax liability

HELPFUL ONLINE SUBMISSION DETAILS

  • The company name and FEIN are not required to complete the Pass-through submission form.  As the profits and losses of the business are “passed down” to the owners of the business, the DOR requires the individual’s name and SSN to be considered for a tax credit.  
  • Even if only one of the married filing joint taxpayers are eligible for Pass-through income, the DOR prefers that both taxpayers are listed when filing jointly
  • If both spouses are pass-though taxpayers, only one application should be completed when filing jointly
  • In the section where the online submission asks for 6% of the estimated tax liability, the number provided should be equal to or greater than the amount of the pledged request.  
  • In order to be eligible to claim the cost of the payment to Apogee as a business expense deduction, payment must be made via the Pass-through entity.  Be sure to include the Certificate # with the payment to ensure that Apogee can accurately match the payment with the approval.  
  • Click here for more detailed information regarding the PT opportunity:        PT detail doc
  • As of 2022, S-Corps are now able to elect to fund their GA tax liability at the entity level, reducing the taxable income on the Georgia tax return for each shareholder in addition to reducing the taxable income of the GA tax liability cost on the Federal tax return.  S-Corp tax election overview