Our Nevada funders are companies who care about their community and desire the opportunity to partner with AAA Scholarship Foundation, and the low-income families we serve, in an effort to create a brighter future for all of our children.
The Nevada Educational Choice Scholarship Program allows any company that pays Nevada Modified Business Tax (employee payroll tax) to redirect that liability into AAA Tax Credits. AAA then uses the proceeds to provide K-12 education scholarships for economically disadvantaged children. Companies receive a dollar-for-dollar tax credit from the state of Nevada for their participation.
The Nevada tax credit application season (the “cap year”) opened on 6/15/2019 with $11,400,000 in MBT credits becoming available. As of 1/2/2020, $1,900,800 in MBT tax credits remain available. The cap year ends when all of the credits are claimed, or 6/30/2020, whichever occurs first.
AAA must submit the tax credit application on your behalf to the Nevada Department of Taxation. Upon approval, your company has 30 days to remit payment to AAA in order to earn your approved Tax Credits. Finally, you claim your earned Tax Credits on your quarterly MBT return. Note that this program has a 5-year credit carry-forward provision for unused credits.
Each AAA Tax Credit program has individual regulations determined by the laws of that state and the accountability guidelines of the AAA Scholarship Foundation. Please click on the link below to view details on participation in AAA’s Nevada Tax Credit Scholarship Program.
Please contact our office at 888-707-2465 for information on reserving your AAA Tax Credits today!
AAA Tax Credits