Our Florida funders are companies who care about their community and desire the opportunity to partner with AAA Scholarship Foundation in an effort to create a brighter future for all of our children.
Any company that pays income, insurance premium, alcoholic beverage excise, direct pay sales and use, and oil and/or gas production taxes in Florida can redirect a percentage of that liability to AAA so that we can fund k – 12 private school scholarships for eligible children – and your company will receive a dollar-for-dollar tax credit from the state of Florida.
Here is how it works: each January 1st, the state of Florida releases a certain amount of tax credits (the “cap”) to companies who contribute to the scholarship program. Since 2018, the cap has been just under $874 million in credits but this year, due to overwhelming support by companies for the scholarship program, the cap has been expanded to a little over $1.09 billion. As of 6/30/22, $536 million in credits remained available for the 2022 cap, $72 million in credits remained available for the 2021 cap and $22 million in credits remained available for the 2020 cap.
Companies reserve their Florida tax credits by completing a short, one-page application on the Florida Department of Revenue’s online Tax Credit web application (or here for the new Commercial Rental Sales Tax Credit application) and choosing AAA Scholarship Foundation under the Contribution Section. Once your reservation is approved, AAA is notified by the FL DOR and we will then contact you to discuss the timing and nature of your remittance(s). This program has a 10-year tax credit carry-forward provision.
Each Florida tax that is available for credits has limits and important deadlines that are set by law and by our accountability guidelines. Please click on the links below to view details on participation for each type of Florida tax that is eligible for AAA Tax Credits.
Please contact our office at 888-707-2465 for information on how to reserve your AAA Tax Credits today!
AAA Tax Credits
Florida Alcoholic Beverage Excise Tax Donor Summary
Florida Corporate Income Tax Donor Summary
Florida Direct Pay Permit Holder Sales and Use Tax Donor Summary
Florida Insurance Premium Tax Donor Summary
Florida Oil and Gas Production Tax Donor Summary
Florida Commercial Rent Sales Tax Donor Summary