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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

  • $10,000 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 $10,000 in Georgia tax credit for a total of $20,000
  • 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.