Great news for Arizona students, schools, donators and everyone else! The State legislation passed a bill (SB1047) that goes into effect this year (2012) as A.R.S 41-1089.03. What is so great about this new law? This new law doubles the amount of maximum tax credit you can take! The “original” tax credit allowed a maximum of $500/$1000 for single/married tax filers, but for tax year 2012, you can donate up to $1003/$2006 to a School Tuition Organization (STO), such as AZ4Education. This is being called the “switcher credit”, but we are going to be referring to it as “EXTRA” credit. […]