May 2008 the State of Georgia passed new legislation which allows tax payers to donate part of their Georgia State Income Tax for use at private schools to provide scholarships for students Pre-K through 12th grade. The donor receives dollar-for-dollar credit off of their Georgia Income Tax Liability. This law sets aside $50 million per year in tax credits from the state annual budget for donations to private schools. These funds are separate from those allocated for public schools.
An individual may donate up to $1,000/yr.
A married couple filing separate returns may donate up to $1,250 each/yr.
A married couple filing a joint return may donate up to $2,500/yr.
A "C" corporation paying Georgia Income Tax may donate up to 75% of its Georgia Tax Liability
(Similar programs are in place in 23 other states.)