Frequently Asked Questions
1. What are SSOs?
SSOs are Student Scholarship Organizations.
The Georgia Assembly passed HB1133 in the year 2008 which was subsequently signed into law by Governor Sonny Perdue. This law was subsequently replaced by HB325 (Approved by Governor Nathan Deal in 2011). The primary outcome of this law was the creation of Student Scholarship Organizations (SSOs), which are non profit 501 (c) (3) charitable organizations which should allocate 90% of annual revenue for Student Scholarships. The law allows GA taxpayers to donate part of their GA Income tax for use at Private schools as Scholarships for eligible children. The law stipulates that the SSOs manage the donations between the donor and Private schools.
2. What is the maximum amount allowed by law to be donated to SSOs each year?
Married couples filing a joint tax return can donate up to $2500 to an SSO and get a dollar for dollar credit when they file taxes the following year.
The maximum amount for an Individual is $1000.
An individual who is a member of a limited liability company, shareholder of an “S” Corporation, or partner in a partnership (pass-through entities) is allowed a Georgia income tax credit for up to $10,000 of the amount they contribute to a SSO, so long as they would have paid Georgia income tax in that amount on their share of taxable income from the pass-through entity. If both spouses, filing taxes jointly, are partners in the company, then the total they can donate together is $20,000.
3. How much money is available for tax-creditable donations each year?
Each year, GADOR (based on HB 325) establishes the cap for the total amount of GA tax dollars available for that calendar year. From 2019, the Qualified Education Expense Credit Cap as established by GADOR is $100MM.
4. How will the scholarships be awarded?
Awarding scholarships to students will be based on an established set of criteria that each school supported by Vision SSO, Inc. comes up with and shares with the parents.
5. What is the maximum scholarship a student can get?
Georgia Department of Revenue determines the maximum scholarship amount a student can get in any calendar year. This is decided by GADOR in January of each year
6. How does the scholarship process work?
- Parents enroll their kids in an GADOE accredited school to qualify for the tax credit program
- Parents will send in their GADOR application via the Vision SSO site
- Vision SSO will consolidate all applications. We will accept applications starting July of each year through December
31st - Parents can request friends and relatives to send in an application as well so the school gets more scholarship money
- GADOR will open up for receiving applications on the first working day of each year
- Vision SSO will submit applications to GADOR on behalf of parents and all donors to GADOR
- GADOR will review and approve applications and send all applicants a letter stating the approval
- Donors will send the donations to VisionSSO, Inc. Vision SSO will let the schools know that money is available for
scholarships - Parents submit scholarship application for eligible kids to the school directly.
- Vision SSO, Inc. informs schools of donations coming in for their school periodically and requests submissions for scholarships
for the same - The school will send Vision SSO, Inc., completed applications for scholarships
- Vision SSO, Inc., will process the applications and will send a check payable to the school and the parent name of the child getting the scholarship.
- Parents have to endorse the check before the school can cash it and use it as scholarship for the student