Â鶹´«Ã½ Education Tax Credit
Industry-driven investment in the University of Â鶹´«Ã½
The Education Tax Credit was established in 1987 to encourage Â鶹´«Ã½ businesses to invest in Â鶹´«Ã½â€™s educational institutions. The credit is a partnership that provides mutual benefit for industry, the university, and the State of Â鶹´«Ã½. If a business owes the State of Â鶹´«Ã½ a tax liability and it makes a contribution to a qualified educational institution, it may be eligible for a credit against state taxes.
These taxes include:
- Corporate Income Tax
- Fisheries Business Tax
- Fishery Resource Landing Tax
- Insurance Premium/Title Tax
- Mining License Tax
- Oil and Gas Production Tax
- Oil and Gas Property Tax
The Education Tax Credit provides a significant public benefit for Â鶹´«Ã½ by incentivizing private companies to invest in education. This strengthens university partnership with important state industries including seafood, mining, banking, tourism and energy. The credit pairs the needs of the private sector with the work of educational institutions, enhancing workforce development, funding research, and providing the university with diverse sources of revenue.
For more information about the Education Tax Credit and how you can make an impact at UA, please contact the University of Â鶹´«Ã½ Foundation.