WHAT IS THE OKLAHOMA PUBLIC SCHOOL INCOME TAX CREDIT PROGRAM?
This tax credit program is a way for individuals and/or businesses to make donations to a public school and receive an Oklahoma state income tax credit. Donors may choose which eligible entity to support and designate funds for a program that is of mutual interest to the donor and the public school.
A single person can donate a limit of $1000 per year and receive a tax credit of 50% of the donation. If the donated amount is pledged for two years, a 75% tax credit is available for both years. A family can donate up to $2000 annually and receive the same tax credit explained above. A business can donate up to $100,000 annually or pledge for two years and receive a 75% tax credit for both years.
Washington Public School Board Policy CDCC designates how the Tax Credit program is administered.