Online Registration Form
Once registered for the tax credit:
- You will receive an immediate confirmation email from GRACE Scholars. GRACE will enter your tax credit to the Georgia Tax Center on the first business day in January 2023.
- Watch for an approval letter in the U.S. Mail in early January 2023 from the Department of Revenue.
- The letter gives your approval date and the amount of the tax credit. Keep the letter for your tax records. GRACE does not need a copy of the letter.
- Follow the steps in the Contribution process.
- Online registration is preferred. Paper registration forms are available by contacting firstname.lastname@example.org.
We will walk you through the entire process from start to finish in a few simple steps.
Items marked with a red asterisk are mandatory.
Select ‘Next’ to go to the next step in the process or you can select ‘Previous’ to return to the previous page, if necessary.
Tax Credit Limits
Single/head of household – lesser of tax liability or $2,500
Married filing jointly – lesser of tax liability or $5,000
Married filing separately – lesser of tax liability or $2,500
Owners of S corporations, LLCs and 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
Any unused tax credits for individuals may be carried forward for up to five years. Contact your tax professional for details.