A corporation or insurance company can take the full amount of the credit for as much as they will be paying in actual tax to the state of AZ. The donation can also be claimed for a federal deduction, but consult an accountant before doing so.
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A school tuition organization cannot award, restrict or reserve scholarships solely on the basis of a donor's recommendation. A taxpayer may not claim a tax credit if the taxpayer agrees to swap donations with another taxpayer to benefit either taxpayer's own dependent.
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