Categories for In the Now

Arizona Charitable Tax Credit Changes – NEW INCREASED LIMITS for 2016

Arizona Governor Doug Ducey recently signed into legislation SB 1216 (found here), which increases 2016 charitable tax credit donation limits. The bill was introduced to allow individuals to give more to nonprofit organizations while allowing them to take larger dollar-for-dollar tax credits, subject to income tax liability thresholds and the below caps. The bill also separated out the Foster Care credit (previously “housed” under the Qualifying Charitable Organization credit) so that taxpayers can effectively offset their tax liabilities in amounts more than double the prior law amounts.