A tax credit is significantly more beneficial than a tax deduction. A tax credit reduces your Arizona State taxes, dollar-for-dollar. A tax deduction reduces the taxable income upon which your tax liability is calculated.
Yes, they are separate and you are allowed to take advantage of both.
No, you do not need to itemize your deductions in order to claim the tax credit.
An organization that has met state requirements to be considered for the Tax Credit.
Yes, you just need our QCO (Qualifying Charitable Organization) code when filing your taxes. Matthew’s Crossing’s QCO code is 20497.
501(c)3 tax exempt non-profit organization under provisions of the Internal Revenue Code (EIN:550896414). Arizona Department of Revenue as a qualified charitable organization (QCO # 20497).
