The Legislature has established an education tax credit which may be taken against the business profits tax and/or the business enterprise tax for businesses that contribute to scholarship organizations that award scholarships to private school and home-schooled students. The credit is equal to 85% of the contribution. L. 2012, S372 (c. 287).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
