Nevada Educational Choice Scholarship Program Update as of July 7, 2023
Statute ("NRS") 363B.119 states that any taxpayer who
is required to pay a tax pursuant to NRS 363A.130 and
363B.110 may receive a credit against the tax otherwise due for any
donation of money made by the taxpayer to an approved Scholarship Grant
Organization (“SGO”) by the Nevada Department of Education.
Taxpayers interested in
donating to an SGO should contact the Department of Education to obtain a
current list of approved organizations. This list can also be found at the
following website: http://www.doe.nv.gov/Private_Schools/Nevada_Choice_Scholarship_Program/
Donation requests sent in by an
approved Scholarship Organization must be approved by the Department of
Taxation (“Department”). All Taxpayer approved donation credit notices and returns
MUST be sent to the Carson City address for posting.
For Fiscal Year (“FY”) 2024, the maximum amount of total donations
per NRS 363A.139 and NRS 363B.119 is $6,655,000.00. As of July 1, 2023, the full statutory amount of $6,655,000.00 has been exhausted, as such, the Department will not be accepting any more applications for FY24.