Posted 11/25/09

What is the extra-curricular Tax Credit that benefits public schools? 

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Currently, individuals may contribute to a school to help fund extra-curricular activities and character education programs.  For a married couple filing jointly, the maximum is $400 and for an individual it is $200.  Assuming that one owes the state some amount of income tax, this contribution is a direct reduction (tax credit) to the amount owed and increases dollar-for-dollar your refund from the state.