Exceptional SC is South Carolina’s only scholarship program for exceptional needs children that provides scholarships for more than 2,600 children across the state. We’ve already raised several million dollars this year from individual donations, but we have seen the impact that small business and corporate donations have made in other states. That’s why I’m emailing you today. We are looking to you to help us grow our scholarship program’s base of support across South Carolina while helping your business at the same time. Don’t feel bad if you haven’t heard about Exceptional SC. Forward this email to your tax professional today and make plans now to redirect your state tax payments for the 3rd quarters of 2019 to Exceptional SC. The redirected payment will be registered with the SC Department of Revenue who will give you a tax credit for the amount, but you need to ask your CPA to reserve your estimated amounts before August 30th. Keep in mind that the SC Legislature did not restrict which taxes our 501(c)(3) can receive, so speak to your tax professional to learn how to get a dollar-for-dollar tax credit (up to 60% of your 2019 state tax liability) on any state taxes you might pay AND a federal deduction for your donation, too. Here is story on a recent IRS ruling on business donations that you can share with your CPA. The story ends with this... "The guidance from the Treasury Department would ensure that businesses
can continuing tapping into billions of dollars in deductions, including
in some states where taxpayers seeking to avoid limits on the deduction
for state and local taxes received combined state and federal tax cuts
larger than the amounts they donated." We’ve also created a short video that explains the concept. |