Georgia Education Expense Credit

    With the enactment of the Georgia Education Expense Credit, Georgia joins other states in giving parents an educational choice for their children. NCCS has partnered with Georgia Student Scholarship Organization (GaSSO) to enable our community to take advantage of this program. Any individual or company who earns an income in Georgia may participate, regardless of whether or not you owe taxes at the end of the year.

What is the Georgia Education Expense Credit (GEEC)?

GEEC allows Georgia taxpayers (individuals, businesses, and corporations) 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 NCCS students who are currently enrolled in public school. You will receive a dollar for dollar tax credit at the state level against your Georgia income tax liability, as well as a federal income tax deduction for a charitable contribution.

How can this tax credit benefit me and NCCS?

Now you have a choice how to use your tax dollars! You can pay income taxes to the state of Georgia or you can redirect some of those taxes to provide scholarships to new students to attend North Cobb Christian School. Any Georgia income tax dollars that you direct towards GaSSO will provide financial aid to a new student who has passed the admission standards of NCCS, but may need some financial help. At the same time, it frees up allotted funds for financial aid at NCCS to be given to existing NCCS students who also may need some financial assistance. For examples of how GEEC helps you on your tax returns, please see the examples below.

How To Apply: 

Apply for the 2019 credit by filling out this form HERE or contact Andrea Ferguson in the NCCS Development Office. 

Receive approval from the Georgia DOR within 30 days of your application being submitted.

Make a donation to GaSSO for the amount of tax credit you were approved for. Donations MUST be made within 60 days of your approval date in order to receive the tax credit.

What are the limitations of the program?
Individual taxpayers may redirect any amount up to $1,000 per year for those filing taxes as a single or head of household, or up to $2,500 for married couples filing jointly.

S Corps, LLCs, LLPs, and P.C.s. may contribute up to the actual amount expended or $10,000, whichever is less. A C-Corporation that pays Georgia taxes is allowed a credit for an amount not to exceed the lesser of the actual amount expended or 75% of the corporation's income tax liability for the tax year. Any of the lesser amount that is not used can be used against the succeeding five year's tax liability.

Need Help?

If you have any questions, please contact Andrea Ferguson by email or at 770-975-0252 ext. 121.

Please talk to your tax professional regarding the specific donation you are able to make.

Example 1: Georgia Income Tax Liability - $3,500.00

Without GEEC Tax Credit   With GEEC Tax Credit
GA Income Tax Liability $3,500   GA Income Tax Liability $3,500
GEEC Tax Credit $0   GEEC Tax Credit $2,500
Amount Due to State of GA $3,500 Versus Amount Due to State of GA $1,000
Less Amount of Georgia Paycheck Withholding $3,900   Less Amount of Georgia Paycheck Withholding $3,900
Amount Due OR     Amount Due OR  
Amount of Refund $400   Amount of Refund $2,900


Example 2: Georgia Income Tax Liability - $5,500.00

Without GEEC Tax Credit   With GEEC Tax Credit
GA Income Tax Liability $5,500   GA Income Tax Liability $5,500
GEEC Tax Credit     GEEC Tax Credit $2,500
Amount Due to State of GA $5,500 Versus Amount Due to State of GA $3,000
Less Amount of Georgia Paycheck Withholding $4,000   Less Amount of Georgia Paycheck Withholding $4,000
Amount Due OR $1,500   Amount Due OR  
Amount of Refund     Amount of Refund $1,000


Example 3: Georgia Income Tax Liability - $1,200.00

Without GEEC Tax Credit   With GEEC Tax Credit
GA Income Tax Liability $1,200   GA Income Tax Liability $1,200
GEEC Tax Credit     GEEC Tax Credit $2,500
Amount Due to State of GA $1,200 Versus Amount Due to State of GA <$1,300>
Less Amount of Georgia Paycheck Withholding $1,400   Less Amount of Georgia Paycheck Withholding $1,400
Amount Due OR     Amount Due OR  
Amount of Refund $200   Amount of Refund $2,700

 

 

 

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4500 Eagle Drive
Kennesaw, GA 30144

(770) 975-0252
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