College Access Tax Credit extended March 2018 Tax News

Information about the College Access Tax Credit

The College Access Tax Credit (CATC) provides a tax credit to taxpayers and businesses who contribute to Cal Grants, the state of California’s largest source of educational financial aid. The credit can be used to offset or reduce taxes.

The CATC program began in 2014, and was recently extended to taxable year 2022. Taxpayers can receive a credit against tax for 50 percent of the amount contributed by the taxpayer for the taxable year.

The application period for the 2018 taxable year will open on March 1, 2018 and close on January 2, 2019. For more information about applying for the credit and receiving a credit certificate, go to the California State Treasurer.

For more information on claiming the tax credit, go to our College Access Tax Credit webpage.