Georgia Residents Assisting Children's Education

 

What Is GRACE Scholars?

 

In 2008, the State of Georgia passed the Private School Education Tax Credit allowing up to $50 million annually of tax money to be used for private pre-K to 12th-grade education. For 2023, the Qualified Education Expense Tax Credit Limit was $120 million. Since GRACE Scholars is a Student Scholarship Organization (SSO) in Georgia, Georgia taxpayers can contribute to GRACE in exchange for a generous tax benefit. The donations collected become scholarships for students with financial need. GRACE Scholars supports participating schools in the Diocese of Savannah and the Archdiocese of Atlanta.

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With your GRACE participation, you can choose how your tax dollars are spent.

 

Am I eligible for a "tax credit?" Any Georgia taxpayer can participate:

 

• Married, filing jointly - lesser of tax liability or $5,000 (filing separately $2,500)

• Individuals or Head of Household - lesser of tax liability or $2,500

• Pass through entities (S corp, LLCs, partnerships) - up to $25,000 of the taxpayer’s tax liability from pass-through entities selected by the taxpayer. The tax credit is 5.75% of the taxpayer’s Georgia estimated income from pass-through entities.

• C corporations and fiduciaries or pass-through business making HB 149 election – up to 75% of estimated state income tax liability

 

How can I contribute? The first step is to register for the tax credit at www.gracescholars.org Choose Immaculate Conception School as your designated school. GRACE will submit your registration to the Department of Revenue for approval. Upon approval, the DOR will send you a confirmation letter through the U.S. Mail with details on payment.

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PLEASE NOTE: Registration for the 2023 Tax Credit is now closed. Registration for 2024 opened on July 1, 2023. Please scan or click the barcode below to visit www.gracescholars.org for more information. Register early so you do not miss out on this tax credit opportunity.

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