Georgia Tax Credit

What is the Georgia Tax Credit Program?

In 2010 the Georgia Assembly passed into law House Bill 1133 which allows Georgians to receive a tax credit when directing a portion of their state income taxes for private school financial aid scholarships. Under this law, you can redirect a portion of your Georgia income taxes to provide financial aid assistance to incoming GBCS students who are currently enrolled in public school. You will receive a tax credit at the state level (and a federal income tax deduction) against your Georgia income tax liability for amounts directed.

How can this tax credit benefit GBCS and me?

You have a choice! You can pay income taxes to the state of Georgia or you can direct some of those taxes to provide scholarships to new students to attend Grace Baptist Christian School. Any Georgia income tax dollars that you direct towards the Faith First Georgia , will provide financial aid to any new student who has passed the admission standards of GBCS, but may need some financial help. At the same time, it frees up allotted funds for financial aid at GBCS to be given to existing GBCS students who also may need some financial assistance.

How does it work?

We have partnered with the Faith First Georgia , a state approved Student Scholarship Organization (SSO), to enable the GBCS community to take advantage of this program. Here is what you do:

Go online and complete the Georgia IT-QEE-TP1 at https://gtc.dor.ga.gov/_/#1 in order to apply for and receive preapproval for the income tax credit.
Within 30 days of receiving your approval notice from the DOR, you must send a copy of the approval form and a check for the directed amount made payable to “ Faith First Georgia ”. Please make sure to write “Grace Baptist Christian School” in the memo section of the check!
Christian School Scholarship Fund will send you a Form IT-QEE-SSO1 acknowledging your contribution.
When you complete your Georgia income tax return for 2010, submit a copy of the Form IT-QEE-SSO1 with your return in order to claim your Georgia income tax credit.

Informational Links:

Who Can Participate?

Georgia Tax Credit FAQ's

Form IT-QEE-TP1

The State Department of Education (This website explains in more detail.)

Faith First Georgia

For Further assistance please contact:

GCSSF, Inc.
1000 Whitlock Ave
Suite 320/PMB 345
Marietta GA 30064
(P)770-528-0581
(F)404-549-4666

Here are the 3 ways that donors can apply for the tax credit.

1. If you, as a school, want to submit your donor forms for your donors, you can collect the completed IT-QEE-TP1 forms from your donors, send them to me, I will input them, and let you know when the approval letter is posted. If this is the option you choose, please contact me to discuss.

2. The donor can go on line https://gtc.dor.ga.gov/_/#1, register for an account and wait for the DOR to process their registration request. Once they are notified of registration, they can submit their form on line. They still have to fill out the IT-QEE-TP1 form, sign it and attach it. The instructions will walk them through it. The first time they register they will need to know the prior years Federal Adjusted Gross Income. They will print the approval letter from the website, send it and a check to me. (I registered today as an individual and it asked for my 2010 Federal Adjusted Gross Income.)

3. The donor can mail their completed IT-QEE-TP1 form to the DOR, address is on page 2 of the form, wait for their approval letter, send me a copy of the approval letter and the check within the 60 day window.

In all 3 instances the IT-QEE-TP1 form has to be filled out correctly and signed by the donor before it is submitted. The donor still has to make the donation within 60 days of the date on the check.

If you have any questions contact Mrs. Reynolds at SReynolds@graceedu.com

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Georgia Tax Credit

GRACE BAPTIST CHRISTIAN SCHOOL