Frequently Asked Questions (FAQs)

The Oklahoma Equal Opportunity Education Scholarship Act (68 Okla. Stat. §2357.206) (“Education Tax Credit Law”) allows individuals and businesses to receive Oklahoma state income tax credits for contributing to an educational improvement granting organization (“EIGO”) recognized by the Oklahoma Tax Commission. The EIGO then uses those contributions to fund innovative educational programs for public schools throughout Oklahoma.

GO for Public Schools is the trade name of GO for Great Schools, Inc. (“GO”), which is an educational improvement granting organization under the Education Tax Credit Law that develops, funds and monitors innovative educational programs for public schools in Oklahoma. GO is an independent 501(c)(3) organization established to assist communities and public schools across Oklahoma in gaining functional access to the benefits of Oklahoma’s Education Tax Credit Law.

The tax identification number for GO for Great Schools, Inc. dba GO for Public Schools is 83-2415970

Tax credits directly reduce the taxes you pay on a dollar-for-dollar basis. An Oklahoma state income tax credit is like a gift card from the State of Oklahoma that you can use to pay your state income taxes. For example, with a $1,000 tax credit from the State of Oklahoma, you can pay $1,000 in state income taxes. 

Tax deductions reduce the base of taxable income upon which you pay taxes, which translates into a reduction on the amount of taxes that you pay; however, the value of tax deductions depends upon a number of factors specific to each taxpayer, including your taxable income which determines your tax rate, whether you itemize deductions, the application of phase outs of certain deductions, and whether the alternative minimum tax applies to you.

Both tax credits and tax deductions help to minimize the overall taxes you pay, but tax credits are much more valuable because they directly reduce taxes dollar-for-dollar.

Individuals and legal business entities (corporations, limited liability companies and partnerships) can contribute to the GO for Public Schools Education Tax Credit Fund and receive a state income tax credit from Oklahoma. Individuals can receive up to a $1,000 tax credit annually, married couples can receive up to a $2,000 tax credit annually, and legal business entities can receive up to a $100,000 tax credit annually.

The tax credit earned by contributing through GO is equal to a percentage of the amount you contribute, depending on whether you contribute for a single year or commit to contributing the same amount for two consecutive years. If you are willing to commit in writing to contribute the same amount for two consecutive years (e.g. 2023 and 2024), then the law grants you a tax credit of 75% of the amount contributed each year. If you only want to make a single year contribution, the tax credit is only 50% of the amount contributed.

All EIGOs are required to file a report with The Oklahoma Tax Commission in January of each year detailing contributions received during the prior calendar year. The Tax Commission calculates the total amount contributed to all EIGOs (and other eligible organizations) for the just completed tax year and the total amount of tax credits earned by such contributions and publishes a report on its website by February 15 of each year.  Link to OTC Annual Announcement.

If total tax credits earned from contributions to all EIGOs (and other eligible organizations) in the State for that year exceed the available tax credits for the year, then a portion of the tax credit earned by each contributor to an EIGO will be deferred or “suspended” by the Tax Commission on a pro-rata basis so as not to exceed the effective Annual Tax Credit Cap. NOTE: No tax credits are lost as a result of such deferral, rather the timing of the use of the tax credits by the taxpayer may be delayed.

If the Annual Tax Credit Cap was exceeded in one year, the Annual Tax Credit Cap for the following year will effectively be reduced by the amount of the suspended credits (the “Effective Annual Tax Credit Cap”).

Tax credits received from contributing through GO may be used in the immediately following year, to the extent that the Annual Tax Credit Cap is not exceeded. For example, tax credits earned by contributing through GO in 2023 (to the extent not deferred or suspended) may be used to offset income taxes on your 2023 Oklahoma tax return filed in 2024. In addition, any tax credit not used in a given tax year may be carried over for up to three years. The tax credit is not refundable. You must use it as an offset to Oklahoma income taxes.

Yes!  Senate Bill 1080 was signed into 2021 and amended the Education Tax Credit Law in significant ways.  Most importantly, for 2022 and beyond, the Annual Tax Credit Cap applicable to EIGOs like GO for Public Schools was increased to $25 million.

Because of this substantial increase in the Annual Tax Credit Cap, it is unlikely that tax credits earned by each contributor to an EIGO will be deferred or “suspended” by the Tax Commission in 2023.

GO can be a powerful tool for your community.  And any community can partner with GO at no cost to the community or its public schools or their supporters!

Please reach out to us by email at info@GOforPublicSchools.com, so we can find a time to visit more about how GO works and discuss what GO can help you do for your community through your schools.

The easiest way to contribute is through the contribution portal on the GO website: CONTRIBUTE NOW. You may pay by credit card or with a check.

You may also complete a handwritten contribution form if you prefer and send it with your check or credit card information to:

GO for Public Schools
PO Box 52820
Tulsa, OK 74152

Contributions to GO are held at our bank in an account designated solely for the purpose of the GO for Public Schools Education Tax Credit Fund or in a reserve fund where such funds can be conservatively invested to generate a return while waiting to be deployed to fund innovative educational programs at public schools across Oklahoma.

Contributions to the GO for Public Schools Education Tax Credit Fund received by December 31 will count as charitable contributions made during that calendar year for purposes of earning your state income tax credit from Oklahoma and your charitable tax deduction. The tax credit that you earn by contributing through GO in each calendar year may be used to offset your Oklahoma taxable income when you file your tax return for that year, subject to any deferral required as a result of exceeding the Annual Tax Credit Cap. 

The amount of tax credits earned only depends on the amount of your contribution through GO, the category of contributor you are (single, married, or business), and whether you are willing to make a 2-year written contribution commitment to earn the 75% tax credit versus a 50% tax credit for a single year contribution.

The amount of the tax credit that you may claim by contributing through GO in 2023 will be determined by February 15 of 2024 and may be claimed when you file your tax return for 2023. Federal and state tax deductions for your contribution to GO in 2023 may also be claimed when filing your 2023 tax return.

You can review the Education Tax Credit Law itself, which is formally known as the “Oklahoma Equal Opportunity Education Scholarship Act” (68 Okla. Stat. §2357.206) here. The Oklahoma Tax Commission, which is responsible for carrying out the statute, is another good source of information (www.tax.ok.gov).