Nonrefundable tax credit for donation to Special Needs Opportunity Scholarship Program.
Checkout our iOS App for a better way to browser and research.
(1) A taxpayer that makes a donation to the Special Needs Opportunity Scholarship Program established in Section 53E-7-402 may claim a nonrefundable tax credit equal to 100% of the amount stated on a tax credit certificate issued in accordance with Section 53E-7-407.
(2)
(a) If the amount of a tax credit listed on the tax credit certificate exceeds a taxpayer's liability under this chapter for a taxable year, the taxpayer may carry forward the amount of the tax credit exceeding the liability for a period that does not exceed the next three taxable years.
(b) A taxpayer may not carry back the amount of the tax credit that exceeds the taxpayer's tax liability for the taxable year.