Instructions for Arizona Form 341-I, ADOR11240 Credit for Business Contributions by an S Corporation to School Tuition Organizations for Displaced Students or Students With Disabilities - Individual - Arizona

Arizona Form 341-I (ADOR11240) Credit for Business Contributions by an S Corporation to School Tuition Organizations for Displaced Students or Students With Disabilities - Individual - Arizona

This document contains official instructions for Arizona Form 341-I , and Form ADOR11240 . Both forms are released and collected by the Arizona Department of Revenue. An up-to-date fillable Arizona Form 341-I (ADOR11240) is available for download through this link.

FAQ

Q: What is Arizona Form 341-I?
A: Arizona Form 341-I is a tax form for individuals in Arizona.

Q: What does the form ADOR11240 refer to?
A: The form ADOR11240 is specifically related to the Credit for Business Contributions by an S Corporation to School Tuition Organizations for Displaced Students or Students With Disabilities.

Q: What is the purpose of this form?
A: The purpose of this form is to claim a tax credit for contributions made by an S corporation to school tuition organizations in support of displaced students or students with disabilities.

Q: Who can use this form?
A: Individuals in Arizona who are claiming a tax credit for contributions made by an S corporation to school tuition organizations for displaced students or students with disabilities can use this form.

Q: What information is required on this form?
A: The form requires information such as the taxpayer's name, SSN, and address, as well as details about the S corporation's contributions.

Q: Is there a deadline for filing this form?
A: Yes, the form must be filed by the due date for filing the taxpayer's individual income tax return, usually April 15th.

Q: Can I claim this tax credit if I am not an S corporation?
A: No, this tax credit is specifically for contributions made by an S corporation, so individuals who are not part of an S corporation are not eligible to claim it.

Q: What is a school tuition organization?
A: A school tuition organization is a nonprofit organization that provides scholarships or tuition assistance to students, particularly those who are displaced or have disabilities.

Q: How much is the tax credit for contributions by an S corporation to school tuition organizations?
A: The tax credit is generally 100% of the contributions made by the S corporation, up to certain limits set by the Arizona Department of Revenue.