Arizona Tax Credit
Make a difference!
Furniture Bank is an Arizona Qualifying Charitable Organization. Our QCO Code is 20138. This code will be required when using the Arizona Charitable Tax Credit on your income tax returns this year and going forward.You can make a gift of either $400 as an individual or $800 as a couple to Furniture Bank, Inc. and at the same time, reduce your tax bill to the State of Arizona by that amount dollar for dollar! It’s easy and you can make a big difference on how Furniture Bank can further help our families. Furniture Bank qualifies as an eligible charity to whom contributions may be made and the donor receives a direct credit (not a deduction) to their Arizona State Income tax at the time they file their taxes. In order to quality, your donations must be received by Furniture Bank, Inc. no later than April 17 of the following year. (NOTE: Businesses are not eligible for this tax credit).
Here are some answers to questions you may have about making a gift to Furniture Bank, Inc. and receiving a Tax Credit!
Why does Furniture Bank, Inc. qualify for the Working Poor Tax Credit?
The qualification is based on our spending at least 50% of our total operating budget on servicing Arizona residents who are considered working poor. About 99 percent of our clients qualify as Working Poor.
How do I know Furniture Bank, Inc. qualifies for the credit under this program?
Qualifying organizations are required to send the Department of Revenue a self-certification letter stating that they meet all qualifying criteria. The Department in turn publishes a list of self-certified organizations. You can request a list from Department of Revenue in Phoenix at 602.255.3381 or you can go to the Arizona Department of Revenue website at www.azdor.gov.
Can I take the Working Poor Tax Credit if I take the School Tax Credit?
Yes, they are separate credits and you are allowed to take advantage of both.
Does the tax credit also apply to my federal income tax returns?
No. The Charitable Tax Credit applies only on your Arizona State income tax. However, you may be able to claim a federal tax deduction for the amount donated.
Please Note: Furniture Bank, Inc. is not a tax advisor. Please contact a qualified tax advisor for advice on your personal tax situation.
Donate Today Online by clicking button:
Here are some answers to questions you may have about making a gift to Furniture Bank, Inc. and receiving a Tax Credit!
Why does Furniture Bank, Inc. qualify for the Working Poor Tax Credit?
The qualification is based on our spending at least 50% of our total operating budget on servicing Arizona residents who are considered working poor. About 99 percent of our clients qualify as Working Poor.
How do I know Furniture Bank, Inc. qualifies for the credit under this program?
Qualifying organizations are required to send the Department of Revenue a self-certification letter stating that they meet all qualifying criteria. The Department in turn publishes a list of self-certified organizations. You can request a list from Department of Revenue in Phoenix at 602.255.3381 or you can go to the Arizona Department of Revenue website at www.azdor.gov.
Can I take the Working Poor Tax Credit if I take the School Tax Credit?
Yes, they are separate credits and you are allowed to take advantage of both.
Does the tax credit also apply to my federal income tax returns?
No. The Charitable Tax Credit applies only on your Arizona State income tax. However, you may be able to claim a federal tax deduction for the amount donated.
Please Note: Furniture Bank, Inc. is not a tax advisor. Please contact a qualified tax advisor for advice on your personal tax situation.
Donate Today Online by clicking button:
OR
Download and print the form attached below. Fill out your information and mail the form and a check to:
Please make checks payable to: Furniture Bank, Inc.
Contact: Mark@FurnitureBank.us for any further questions.
Thank you for helping make a difference!
Download and print the form attached below. Fill out your information and mail the form and a check to:
Please make checks payable to: Furniture Bank, Inc.
Contact: Mark@FurnitureBank.us for any further questions.
Thank you for helping make a difference!
| az_charitable_tax_credit_form.docx |
