What is the Arizona Education Tax Credit and how does it work with XR Station league play?
Fees paid to participate in the extracurricular activity known as THE XR GAMES (Westwind Preparatory Academy) qualify for a credit against your Arizona State Income Tax bill. This means that an individual can claim up to a $200.00 tax credit and a married couple can claim up to a $400.00 tax credit. The Arizona tax credit also allows you carry forward the credit for 5 years. We have just offered the player and his sponsor/parents a way to finance 5 years worth of the tax credit, or $2000 for immediate use for THE XR GAMES. Please check with your tax advisor and see how this applies to your situation. We believe you can also deduct this as a donation on your federal income tax. We can help you finance your refundable donation through our network partner Leaf Networks and GE Capital.
