Peach Education Tax Credit
What is the Peach Education Tax Credit?
The Peach State Tax Credit allows taxpayers in the state of Georgia to designate a portion of their state income tax payments to be utilized at the local level, directly benefiting school systems. The Jackson County School System was approved in June of 2024 to become a beneficiary of this
program.
Choose where your tax dollars go!
The Peach Education Tax Credit allows tax payers to donate to support innovated programs that foster educational excellence for students. Donors receive a dollar-for-dollar tax credit on their state income tax. Your state tax dollars can stay local to directly benefit the JACKSON COUNTY SCHOOL SYSTEM with no additional costs to you.
How Will JCSS Benefit?
Your tax donation can also be designated to support student readiness at all levels, including early literacy workshops for caregivers, access to books and guidance for families to engage in literacy rich environments, as well as activities for students and their families as they move between each grade band– from elementary to middle school, middle to high school, and high school to college, career, military, and the workforce. We want every student to be prepared to approach each step of their educational journey with confidence, excitement, and the skills for success.
Additionally, we aim to raise $1,500,000 to revolutionize education in Jackson County by providing industry-relevant equipment, technologically advanced training tools, and creating unique, project-based learning experiences for students by providing teachers the tools necessary to complete this task.
How Much Can I Designate?
The Peach Education Tax Credit allows the following limits, based on filing status:
- A single individual or head of household is eligible to receive a Georgia state income tax credit up to $2,500.
- For married couples that file separately, you are eligible to receive a Georgia state income tax credit up to $2,500.
- A married couple filing jointly is eligible to receive a Georgia state income tax credit up to $5,000.
- An S-corporation shareholder, LLC member or partnership partner is eligible to receive a Georgia state income tax credit up to $25,000.
- A C-corporation or trust is eligible to receive up to 75% of annual Georgia income tax liability.
How do I contribute?
Step 1: Apply
Apply by visiting the Georgia Foundation for Public Education website (www.gfpe.org). The application process takes less than one minute to complete, and the GFPE will submit your application to the Georgia Department of Revenue on your behalf.
Step 2: Receive Approval
The GFPE and Department of Revenue will notify you of your approved tax credit amount and the payment deadline to take part in PEACH.
Step 3: Make Your Donation
Submit your payment to the GFPE before the payment deadline, which is 60 days after receiving your pre-approval from the Department of Revenue. Within one week of receiving your donation, the GFPE will send you the Form IT-QED-FUND1, which serves as the receipt for the donation.
Step 4: Claim Your Tax Credit
To claim the tax credit on your state income taxes, you will need to complete Form IT-QED-TP2 and attach it to your income tax return when it is filed. You may download the form here. (Note: you will take the credit when you file your taxes in the year following your contribution).