How to receive your tax credit
Fill out a simple form (AZ Form 321)
You can get this form your tax preparer or from the State of Arizona
File AZ Form 321 with your taxes or give the form to your tax preparer
Receive a credit on your taxes for the full amount of your donation up to the current limit.
IMPORTANT NOTES
Consult your tax advisor for more info about your specific situation and to see whether or not you qualify for this tax credit.
To visit the State of Arizona Department of Revenue's website page that answers questions regarding this credit, click here: Credit for Donations made to Qualifying
Charitable Organizations
Recent state law changes mean you no longer need to itemize your state return to claim this credit. Form 321, which had been used to claim this credit prior to 2013, was
revised by the Arizona Department of Revenue to fit the new guidelines.
The Arizona Charitable Tax Credit (which is referred to by the State of Arizona as the Credit for Donations made to Qualifying Charitable Organizations) is in addition to
and completely separate from the Private School Tuition and Public School Activity tax credits – you may participate in any or all three if you choose.
If you have no Arizona tax liability for the current year, you may carry the tax credit forward for up to five years.
Your donation may also be claimed as a charitable deduction on your Federal Income Tax.
The Mission is listed as “Bread of Life Mission of Holbrook”
What is the difference between a tax credit and a tax deduction?
A tax deduction is an item that helps determine your final tax liability. A tax credit is a reduction
to your final state income tax liability. Tax credits are very beneficial because they directly
reduce your state income tax liability, lowering the amount of money that you will owe.
When were the AZ Charitable Tax Credit limits raised from $200-$400 to $400-$800?
As of May 5, 2016 the Arizona Charitable Tax Credit limits were raised to $400 for singles and
$800 for married filing jointly. See Bill SB:1216-522R for more information.
How do I file for the credit?
There is a simple form (AZ Form 321) that is included with your state income tax filing that you
or your accountant can complete. This form is included with materials provided by the State of
Arizona to all tax filers.
Should I take advantage of this tax credit now?
Yes, because your donation will help provide for the needs of the homeless and working poor
right here in Holbrook, through your gift to Bread of Life Mission of Holbrook. And remember,
always consult your tax advisor regarding your personal tax situation.
Is Bread of Life Mission of Holbrook a qualified charitable organization under Arizona
law?
Yes, Bread of Life Mission of Holbrook is an Arizona Department of Revenue certified charitable
organization and spends at least 50% of its budget on basic needs to residents of Arizona.
What happens if I don't owe taxes at the end of the year?
Both the Charitable Organization and Arizona Public School Tax Credits reduce your overall
state income tax liability. If you cannot use all your tax credit(s) in a given year, you will not
receive a refund but will be able to carry them forward for up to 5 years or until the credits are
used.
How do I document my contribution?
Bread of Life Mission will send you a letter confirming your contribution. This letter documents
your contribution and is necessary to support your tax credit. Payroll deductions also require a
pay stub receipt. Please make sure you include your name and home address on the donation
page.
Can I receive multiple credits?
Yes, you can receive a dollar-for-dollar tax credits for both the Arizona Charitable Tax Credit
and the Arizona Public School Tax Credit.
