State Form 54242 - Schedule In-Ssc - School Scholarship Credit - 2012 Page 2
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1
2Instructions for Schedule IN-SSC
School Scholarship Credit
PART II, Computation of Credit
Effective July 1, 2009, a School Scholarship Tax Credit is
Line 1 – Enter the total amount of the contribution(s).
available for individuals and corporations. (Indiana
Code 6-3.1-30.5 and Indiana Code 20-51)
Line 2 – Enter 50% of line 1.
A taxpayer that makes a qualifying contribution to a
Enclose this schedule with your Indiana tax return.
scholarship granting organization (SGO) is entitled to a
credit against their state tax liability in the taxable year in
If you have any questions regarding Indiana’s treatment of
which the contribution is made. The amount of a taxpayer’s
the School Scholarship Credit, contact:
credit is equal to 50% of the amount of the contribution
made to the SGO for a school scholarship program.
Indiana Department of Revenue
Tax Administration
Although there are no limits on the size of a qualifying contri-
100 N. Senate Ave.
bution to an SGO, the entire tax credit program has a limit of
Indianapolis, IN 46204
$5 million in credits per state fiscal year (July 1 – June 30).
(317) 232-0129
PART 1
Enter the name of the individual, corporation, or nonprofit
organization claiming the credit.
Enter the Social Security number or federal ID number.
Enter the name of the scholarship granting organization.
Enter the certification number you received from the
scholarship granting organization. (This can be found
on your receipt.)
Enter the amount of the contribution.
*24100000000*
24100000000
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