THE 2024 CAP HAS BEEN MET.
Request the 2025
GA QEE Tax Credit
The State of Georgia will give taxpayers a dollar-for-dollar Qualified Education Expense (QEE) Tax Credit when they donate to Pay it Forward Scholarships. Tax credits are available on a first come, first served basis.
Select the school where you would like to fund scholarships and the funds will be equally divided among all approved, eligible students who have a current and complete application on file with Pay it Forward Scholarships. When you donate, you will receive a dollar-for-dollar Georgia QEE Tax Credit.
The deadline to submit a request is December 31st for the next calendar year.
Tip: If you want to BOTH participate in the tax credit program AND request a scholarship, we suggest you complete the scholarship application, which will allow you to do both things in one form.
Make Your Tax Dollars Count!
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$2,500 Single Individuals
$5,000 Married Couples, Filing joint
$25,000 per Small Business Owner, S-Corps, Partnerships, & LLCs
75% of Annual State Tax Liability for C-Corps, Trusts, Pass-throughs electing to pay tax at the entity level, and businesses that pay insurance premium tax
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$120 million Aggregate Annual Cap for Georgia taxpayers
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On January 3, 2024, the Georgia Department of Revenue announced: “The Qualified Education Expense credit cap of $120 million was reached on Tuesday, January 2nd for calendar year 2024. The Department is working to finalize and prorate applications accordingly. Approval and denial letters will be processed accordingly. Both taxpayers and SSOs will be able to access letters on their Georgia Tax Center (GTC) account.”
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The Qualified Education Expense Tax Credit cap of $120 million was reached on Tuesday, January 3rd for calendar year 2023. All approved requests received approval at a pro-rated 78% of the amount requested.
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The cap of $100 million was met on April 27, 2022 according to the GA DOR.
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In 2015-2018, the $58 million in QEE Tax Credits were completely reserved on the first day of each year, and donors received pro-rated approvals. This tax credit is VERY popular with Georgia taxpayers!
In 2019, Georgia increased the QEE Tax Credit cap from $58 million to $100 million dollars per year.
In 2019, 2020, and even in 2021, we were expecting the tax credits to be completely reserved on the first business day of January, and donors to be approved for a pro-rated amount of the amount requested. However, we submitted all of our tax credit requests each of these years and our donors were approved for 100% of the tax credit amount requested, and tax credits remained available through December of each of these years.
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Beginning with 2023, the new aggregate annual cap for the QEE Tax Credit program has been increased to $120 million.
History of Aggregate Annual Cap:
$120 million - 2023 - current
$100 million - 2019-2022
$58 million - 2013-2018
$50 million - 2008-2013
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Approval Letter - provided by the Georgia Department of Revenue via mail or available online through the Georgia Tax Center website.
Form IT-QEE-SSO1 - provided by Pay it Forward Scholarships to acknowledge your donation. It is recommended that you attach this document to your return if your tax filing software allows that.
Form IT-QEE-TP2 - to be completed by the taxpayer and transmitted with the electronically filed return. Online tax filing software typically will walk taxpayers through completing this form.
Frequently Asked Questions - By Donors
I got my approval letter.
Now what?
You have 60 days from the date of your approval letter to decide the amount you’d like to donate and to submit that donation to Pay it Forward Scholarships.
How do I get a receipt to claim the tax credit?
We send Georgia Form IT-QEE-SSO1 to taxpayers by January 31st for the previous year’s donations. If you need a copy prior to this time, simply email us a request at info@payitforwardscholarships.com
Can I participate as both a donor and a parent?
Yes, you can request the GA QEE Tax Credit and apply for a Pay it Forward Scholarship for your child. Donors designate the school they wish funds to go toward, but cannot designate a particular student. We recommend you complete the scholarship application since it contains both opportunities. The tax credit request form is only for the tax credit.
Click on the images at right to access a printable PDF version of the FAQs.
