OKLAHOMA PARENTAL CHOICE TAX CREDIT
At St. Mary’s Catholic School, we firmly believe that tuition costs should never serve as a barrier preventing any student from receiving a quality education and an enriching experience.
SMCS is an eligible school for the Parental Choice Tax Credit.
The Parental Choice Tax Credit program provides a refundable income tax credit of $5,000-$7,500 for eligible Oklahoma Taxpayers who pay, or expect to pay, qualified expenses such as tuition and fees to an eligible private school on behalf of an eligible student that attends or plans to attend an eligible private school during that tax year.
WE’re happy to help walk you tHROUGH the proCESS!
Parents may receive a refundable tax credit of a minimum of $5,000 up to a maximum of $7,500 per child to cover the cost of private school tuition and fees at an accredited private school. Tax credits are tiered based on the household income for the second year preceding (meaning the 2022 Adjusted Gross Income for the 2024 tax credit).
Qualifying expenses for students attending an accredited private school include tuition and fees. Taxpayers are instructed to keep their receipts.
The parent keeps any amount of the credit that exceeds their state tax liability. Payments are disbursed in two equal installments, so parents do not have to front the cost of tuition at the beginning of the school year.
For more information, please visit www.parentalchoice.ok.gov