Did you know that you can make St Philip Neri School more affordable and receive a substantial Oklahoma Income Tax credit? The Catholic Schools Opportunity Scholarship Fund was created to take advantage of the OK Equal Opportunity Scholarship Act that allows both a 50% tax credit as well as an itemized deduction on Federal and State income taxes.
Furthermore, you can designate up to 75% of your contribution to specific Catholic schools, including St Philip Neri or one of the 3 Archdiocesan high schools, or split the 75% among schools.
Scholarships will be awarded based on financial need.
- The limit of the credit is $1000 for individuals and $2000 for married filing jointly.
- The Oklahoma Legislature has appropriated a set amount to tax credits under the act. If the amount of credits claimed exceeds this, the credit you receive can be reduced.
- To preserve the intent of serving those with financial need, designated amounts may be redistributed.
- There are slight changes this year. If using a brochure form, be sure it is the Spring 2016 version.