2019 State Income Tax Credits Available

Posted on June 6, 2019 in News

Your qualified donation to the Catholic Education Foundation can provide you with a 70% Kansas state income tax credit in 2019.

The Catholic Education Foundation (CEF) funds K-12 education scholarships for eligible, low-income children to attend Catholic schools in the Archdiocese through the Kansas Tax Credit for Low Income Students Scholarship Program.

This program allows companies and individuals to redirect up to 100% of their Kansas state tax liability (up to $500,000) to CEF in order to fund these scholarships. Donors receive a Kansas tax credit equal to 70% of their donation.

These tax credits are also available to banks and financial institutions that pay privilege taxes, and insurance companies that pay premium taxes.

The tax credits do not expire. They can be carried forward into future tax years. However, they are not transferrable and non-refundable.

There is a $10 million cap on the program statewide. If you are eligible and the program cap has not been met, the Kansas Dept. of Revenue will issue a tax credit certificate for you to submit with your 2019 state tax return.

The process to enroll and claim these state tax credits is simple. Contact CEF for details about the program and the different ways you can earn the tax credits. We’ll handle the paperwork to ensure your tax credit certificate is issued. By law, we must submit the application to the state on your behalf. You can learn how the tax credits work here.

The suggested minimum donation is $10,000 and the maximum contribution by law is $500,000. Donations of cash, stocks, bonds, life insurance, retirement funds and other investments can be considered. Please consult your tax advisor for details regarding your specific eligibility and tax situation.

If you are interested in reducing your state tax liability while making a great philanthropic impact, you’ve come to the right place. The Catholic Education Foundation is the largest Scholarship Granting Organization in Kansas, and each year, the generosity of our donors helps hundreds of low-income students access educational opportunities at Catholic schools.

CEF is the only Archdiocesan charitable organization offering state income tax credits.

Please contact Libby Knox, CEF Director of Development, at (913) 721-1572 or lknox@archkck.org for more information.

Libby Knox is Director of Development for the Catholic Education Foundation.

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