Reduce Your Ohio State Income Tax
Save up to $1500 on your Ohio State Income tax when you donate through the CISE-SGO
(Scholarship Granting Organization).
What You Need to Know
If you have never heard of an SGO, you’re not alone. They are new in Ohio. Scholarship Granting Organizations (SGOs) have been around in other states for a long time, but now they are in Ohio too.
What is an SGO?
Scholarship Granting Organizations are quite simple. They are nonprofit organizations who do these two things: (1) raise scholarship funds from donors, and (2) disburse scholarship funds to students, primarily from kindergarten to grade 12.
How it Works
Contributions up to $750 for individuals ($1500 for married couples filing jointly) to an SGO are eligible for a dollar-for-dollar nonrefundable tax credit on the donor’s State of Ohio tax return. A tax credit may be superior from a tax-paying standpoint because it may reduce the income tax liability of the tax donor.
Why should you use an SGO?
Tax credits reduce the taxpayer’s income tax liability dollar-for-dollar, whereas the charitable deduction is worth only cents on the dollar.