Foster Child Organization Tax Credit

Foster Child Organization Tax Credit

Funder: Fostering Success Act Inc (GA, US)

Geographic Scope: Georgia, United States

Program Type: Georgia state tax credit for taxpayers who donate to qualified foster care support organizations

Overview

Georgia taxpayers can receive a 100% tax credit for donations made to qualified foster support organizations. Applicants must be pre-approved by the state (Georgia Department of Revenue) to take advantage of this credit.

Eligibility

• Georgia taxpayers only
• Must be pre-approved by Georgia Department of Revenue
• Eligible filing statuses:
- Single Individual or Head of Household - Married Filing Jointly - Individual Owner of S-Corp, Member of a LLC, or Partner in a Partnership - C-Corp, Trust, or Pass-Through Entity electing to pay tax at entity level

Contribution Limits (January 1 - June 30)

• Single Individual or Head of Household: Up to $2,500 per year
• Married Filing Jointly: Up to $5,000 per year
• Individual Owner of S-Corp, Member of a LLC, or Partner in a Partnership: Up to $5,000 per year
• C-Corp, Trust, or Pass-Through Entity: Up to 30% of Georgia income tax liability per year

Important Notes

• Effective July 1, contribution limits are no longer in effect if the $30 million funding goal has not been met
• Annual Application Required: Taxpayers must apply for the tax credit each year
• Applications are processed in the order received through the Georgia Department of Revenue website

Contact Information

• Email: info@fosteringsuccessact.org
• Phone: 678.690.7977
• Website: fosteringsuccessact.org

How to Apply

1. Determine Your Filing Status:
- Individual / Married Filing Jointly
- S-Corp / Member of LLC / Partnership
- C-Corp / Trust / Pass-Through Entity

2. Choose Application Method:
- Have Fostering Success Act apply on your behalf, OR
- Navigate the application process independently

3. Submit Application:
- Access the Georgia Tax Center Login
- Complete the appropriate application form based on your filing status
- Submit through the Georgia Department of Revenue website

4. Processing:
- Applications are processed in order of receipt
- Pre-approval from Georgia Department of Revenue is required

Required Information

• Filing status details
• Tax liability information (for entity applications)
• Donation amount to qualified foster support organization