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Idaho Tax Credit

 

 

Take advantage of the Idaho Education Tax Credit!

Idaho has a unique tax credit opportunity specifically for contributions to schools.  Gifts to GSAA may qualify for a 50% tax credit (a reduction in the actual tax you owe).  If you itemize your taxes, a donation to GSAA allows income tax deductions on your state and federal returns, plus a 50% Idaho income tax credit.

  • Idaho individuals may take up to 50% of a gift of $1,000 (a tax credit of $500)
  • Idaho married couples may take up to 50% of a gift of $2,000 (a tax credit of $1,000)
  • Idaho corporations may take up to 50% of a gift of $10,000 (a tax credit of $5,000) 

These amounts reflect approximate rates for a joint return of $40,000 taxable income and are based on the taxpayer who itemizes personal deductions.  Gem State Adventist Academy its Board and Administration do not provide any tax advice.  As such, any potential donor should consult with their tax advisor for details and applicability of the Idaho Education Tax Credit.

Additional Resources:  Idaho Statute Title 63 Revenue and Taxation Chapter 30 Income Tax