Rob Sellers | August 12, 2020 https://oklahoman.com/article/5668879/point-of-view-private-schools-provide-stability-for-oklahoma-students-parentsThe COVID-19 pandemic has been changing our way of…
The foundation of the Opportunity Scholarship Fund is the ability to offer Oklahoma tax credits as an inducement to contributors. Tax credits in Oklahoma periodically experience criticism and debate in the Legislature and elsewhere.
Listed below are several facts about our Fund and Oklahoma tax credits.
Oklahoma allowed 40 different tax credits in 2014. Only two of these credits benefit education. One is for donations to Scholarship Granting Organizations (SGOs) that benefit private school students – such as our Opportunity Scholarship Fund. The other is for Educational Improvement Grant Organizations (a product of the same legislation authorizing SGOs) that benefits non-metro public schools.
There is only ONE state tax credit that directly benefits individual Oklahoma students. That same credit is the only one available to EVERY Oklahoma taxpayer. That state tax credit is on line 39 of OK 2014 Form 511CR. It is a “credit for contributions to a Scholarship-Granting Organization” – our Opportunity Scholarship Fund.