Welcome to Ideate Education Empowerment, Inc.

GA Tax Credit -How it Works
Effective for 2008, Georgia enacted a new tax credit program which permits:

Individuals and businesses to receive a credit for contributions to Ideate Education Empowerment, Inc. a qualified student scholarship organization (SSO).

The availability of the income tax credits is on a first-come, first-served basis.

There is a $50 million cap on the total amount of Georgia tax credits awarded each year.

For federal tax purposes, you may deduct the donation as a charitable contribution, since Ideate Education Empowerment, Inc. is qualified as a charitable organization.

For Georgia residents, you must add the contribution back to taxable income, but you will claim the tax credit.

For example, assume a married couple filing a joint return is in the 35% federal and 6% Georgia tax brackets. The couple will save federal tax of $875 on a donation of $2,500. Their net Georgia tax savings are $2,350, because they are entitled to a credit of $2,500 but have additional tax of $150 on the contribution added back to federal taxable income. Their total tax savings are $3,225, which is $725 more than their actual contribution. To pre-qualify your donation for the tax credit, you must send Georgia Form IT-QEE-TP1 to the Georgia Department of Revenue to receive confirmation that the annual cap has not been reached.

To obtain approval, please follow these steps:

Complete Georgia Form IT-QEE-TP1. (Click here for a copy) and forward to the Georgia Department of Revenue (DOR).

The DOR will respond within 30 days with pre-approval, denial, or reduction of your request based on the availability of credit remaining against the $50 million ceiling.

Make your contribution to Ideate within 60 days after you receive the pre-approval notice.

Ideate Education Empowerment, Inc. sends a Qualified Education Expense Credit Letter of Confirmation, Georgia Form IT-QEE-SSO1, to donor before the end of the calendar year.

Website designed and maintained by: Apoios