Virginia's Education Improvement Scholarships Tax Credits program
Virginia’s Education Improvement Scholarships Tax Credit program allows you to donate to scholarships for low-income students at Saint Benedict Catholic School and receive a 65% Tax Credit.
Individuals can use the Tax Credit against their Virginia personal income tax liability.
Businesses can claim the Education Improvement Scholarships Tax Credit against:
Virginia Corporate Income Taxes
Virginia Bank Franchise Tax
Virginia Insurance Premiums License Tax
Virginia Public Service Corporations Tax
Personal Income Taxes via pass-through entities such as S-Corporations, LLCs, and Partnerships.
In addition to the 65% Tax Credit, individuals and businesses may also receive a deduction for a charitable contribution.
Consult your tax advisor to determine your specific tax savings.