Support BC

Georgia GOAL

The GOAL Program is a remarkable and important opportunity provided to Georgians by our elected officials. In exchange for contributions to Georgia GOAL, our partner Student Scholarship Organization, taxpayers receive a 100% state income tax credit!

This is a proven opportunity that is a win-win-win for taxpayer donors, scholarship recipients, and our school community. By simply contributing to Georgia GOAL for a 100% Georgia income tax credit – in other words, by contributing with dollars you must spend anyway – you will help maximize financial aid for deserving families desiring to receive a Benedictine education.
Tax Credit Limits Based on Filing Status have been expanded, effective in 2023!
 
Tax Filing Status
Previous Limit
New Limit
Single Filer
$1,000
$2,500
Married Separate Filer
$1,250
$2,500
Married Joint Filer
$2,500
$5,000
Pass-Through Owner (not making HB 149 election)
$10,000
$25,000
C Corp, Trust, or Pass-Through electing to pay tax at the entity level (HB 149)
75% of annual tax liability
New for 2023: Business that pays insurance premium tax
75% of annual tax liability, but credit shall not exceed $1 million

How to Contribute & Take the Tax Credit

  1. Apply Now
Complete the 2023 GOAL Tax Credit Application today at www.goalscholarship.org (takes just 20 seconds!).
 
  1. GOAL Submits to DOR
GOAL submits your 2023 application to the Georgia Department of Revenue (DOR) on the first business day of January 2023.
 
  1. Approved to Contribute
By mid-January 2023, GOAL and DOR notify you of approved tax credit amount and payment deadline.
 
  1. Make Payment
Pay GOAL by check, credit card, or ACH within 60 days of DOR approval (by mid-March 2023).
 
  1. Take the Credit
GOAL will send you Form IT-QEE-SSO1 (tax receipt) in May 2023 for claiming the credit on your Georgia income tax return (Note: you will take the credit on the income tax return for the year in which you make the payment).

New Benefit for Business Owners

Video: How does GOAL work?

Good News from the IRS

IRS proposed regulations provide that a payment made by a pass-through business to Georgia GOAL for a designated school like Benedictine may qualify for an ordinary and necessary business expense deduction, even where the owners receive a state income tax credit for the payment.
 
Businesses can deduct payments relevant to their trade or business that are made with the reasonable expectation of financial return commensurate with (but, according to the IRS, not necessarily equal to) the amount of the payment. The business expense deduction reduces the taxable net income of the pass-through business owner at the federal level, resulting in federal tax savings.
 
Your participation in the GOAL program makes a remarkable impact on deserving families and on the overall financial health of our school.

Contact

Please contact Greg Markiton ’92 at greg.markiton@bcsav.net with any questions.
Thank you for your support of Benedictine Military School!