Education Expense Tax Credit
Georgia Education Expense Tax Credit
Now you can provide scholarship funds to the students at The Joy House’s on-campus, GAC-accredited school. Your contribution will qualify for a dollar-for-dollar education tax credit on your Georgia income tax return.
The Georgia Qualified Education Expense Tax Credit Program allows individual and corporate taxpayers to redirect a portion of their State income taxes to benefit students at private schools, including The Joy House Academy.
Each year, the State of Georgia allows a portion of state income tax dollars to be designated for school scholarships. In 2022 the portion was raised to $120 million. This program allows individuals and companies to receive a dollar-for-dollar tax credit for donations for student scholarships at accredited non-profit private schools in Georgia. The state legislature has made this available to both individuals, married couples, S-Corps, LLCs, and C-Corps.
All donations are processed by organizations called Student Scholarship Organizations(SSO). The Joy House is working with Georgia Student Scholarship Organization (GaSSO) as our SSO. All contributions designating the Joy House Academy will be directed to the teens in our program to meet their educational needs.
Scholarship contributions can have a significant impact on supporting the Joy House program, as nearly 20 percent of our budget needs are for educational expenses. This program has become a significant source of funding for us.
Funding from this program for 2023 was pro-rated because the $120 million cap was met. With the likelihood that the cap will be met on the first business day of the New Year it is imperative that we have those who want to participate to act between now and the end of the year to fill out the appropriate request form. You can fill out the appropriate request online at the GaSSO website and they will be automatically input to the DOR. You can get the details below on how to do this.
The state has set generous limits. You can contribute any amount you choose up to the following:
- Couples filing jointly can redirect up to $5,000 of their income tax liability.
- Individuals can redirect up to $2,500 of their income tax liability.
- C Corporations that pay Georgia income taxes can redirect up to 75% of their income tax liability.
- LLCs, S-Corps, and Partnerships: Up to $25,000
Easy To Participate
Designating your tax credit to The Joy House Academy is easy. Simply follow these steps.
- Get Pre-Qualified. For the 2024 tax year you complete your application online. Please follow this link to the GaSSO website and click on the button that says “Submit Your Pledge”. If you’ve done this before and have a GaSSO account use it to login. If this is your first time we recommend creating an account.
- Complete Pledge Form
- Confirm Email
- Select school: Joy House Academy
- Check Disclaimer
- Click Submit
- Wait until January for GaSSO email or DOR approval letter (save both)