Alaska Education Tax Credit
What is the Alaska Education Tax Credit (ETC) program?
Alaska’s Education Tax Credit program was first established by the Alaska State Legislature in 1987 to encourage private businesses to make charitable contributions in support of education. The program was amended in 2014 and businesses can now receive tax credits for qualifying cash contributions made to school districts. Now, your business can give to programs that directly benefit children in your community and receive a tax credit. It’s a win-win!
Potential Tax Savings for Donations to the District
*Assumes a federal tax rate of 35%. This calculation is simplified and actual results may vary depending upon the unique circumstances of each taxpayer. Please contact your tax consultant for further information.
Frequently Asked Questions (FAQ) about the ETC
- Which taxes are eligible for the Education Tax Credit (ETC)?
- Alaska Corporate Income Tax
- Fisheries Business Tax
- Fishery Resource Landing Tax
- Insurance Premium Tax/Title Insurance Premium Tax
- Mining License Tax
- Oil and Gas Production and Transportation
- Oil and Gas Property Tax
- Can my business apply donations to more than one type of tax?
- A taxpayer may claim a credit against several tax types for cash contributions to eligible organizations or programs.
Recognition of Partners in Education does not constitute a recommendation or endorsement by the school district.