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WHO’S ELIGIBLE?
All Georgia residents of Georgia who pay
state income tax. This applies to couples or individuals
filing separately or jointly. Corporations may also
participate.
WHAT ARE THE TAX SAVINGS?
• An individual may contribute up to $1,000
per year. A couple filing jointly may contribute up to
$2,500 per year.
• Corporations may contribute up to 75% of their tax
liability.
HOW
DOES THE TAX CREDIT WORK?
• A taxpayer re-directing all or a portion
of his Georgia income tax payments to GOAL and designating
Wildwood receives an income tax credit in
the same amount.
• For example, if a married couple filing
jointly owes $6,000 in Georgia income taxes, they may make
a maximum
contribution to GOAL of $2,500. Their net income tax
owed to the state is reduced to $3,500 after the credit is
applied.
WHAT DOES GOAL STAND FOR?
• It is an acronym which stands for
‘Georgia Education Expense Credit.’
• This is a Georgia program that uses
state income tax credit-eligible contributions to allow
public school students to attend private schools.
HOW DOES WILDWOOD BENEFIT?
• Wildwood is able to draw from a rich
reservoir of local students who otherwise would not be
able to afford private school. Wildwood benefits by
increasing the size of its student body with students who
want to learn. They add to the school’s culture of
excellence and enhance the Wildwood experience for all
students.
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