The portal for the Parental Choice Tax Credit from Oklahoma finally opened on Wednesday after facing a delay due to technical issues. Now, parents who want to send their kids to private school, can apply for up to $7,500 in credit to cover tuition, or other education expenses.
Parental Choice Tax Credit from Oklahoma: why was it delayed?
In May this year, Governor Kevin Stitt approved the Oklahoma Parental Choice Tax Credit Act. The Oklahoma Tax Commission has partnered with Merit International Inc. to manage the Parental Choice Tax Credit program.
Oklahoma’s legislature sanctioned $1 million for the Tax Commission for the program, but the commission is paying $3 million to Merit to manage the program. The additional $3 million will likely come from other Tax Commission services or the overall appropriation for the credits.
The application for the Parental Choice Tax Credit from Oklahoma opened Wednesday afternoon. It was supposed to go live last week but was delayed because some parents hadn’t received the needed forms yet.
“Although the majority of taxpayers have received the necessary forms and are ready to apply, there are those who have not received their forms yet, and select taxpayers who have received forms with incomplete or incorrect information,” Merit International said in a statement previously.
Explaining the decision to postpone the process, the Oklahoma Tax Commission said it was needed to set a fair playing field for all parents, as having the Enrollment Verification Form is a mandatory part of the application process.
In fact, the very first step to apply for the program is to get an enrollment verification form from the school. After receiving the form, parents need to confirm their eligibility and then apply for the program by visiting this link.
Parents need to complete a separate form for each student. In addition to the above requirements, non-guardian applicants also need to submit a completed parental consent form, which is available on the program’s website.
Gov. Stitt won’t apply for the credit
Families across the state are racing to submit an application now that the application portal for the Parental Choice Tax Credit from Oklahoma is live. The Tax Commission may authorize only $150 million in tax credits for the tax year 2024, and the credit will be given on a priority basis.
Earlier, Governor Stitt said he and his family planned to apply for the credit. On Wednesday, however, the governor said that they have decided not to apply for the Parental Choice Tax Credit from Oklahoma.
Stitt’s spokesperson, Abegail Cave, said the governor encourages all Oklahoma families to apply for the tax credit. Further, the spokesman said that the governor has decided not to apply as he wants to give other families the opportunity to get the credit. Three of Stitt’s children attend private schools.
The Parental Choice Tax Credit from Oklahoma gives homeschooled families a credit of up to $1000, and private school families a credit of between $5,000 and $7,500, depending on their household income. The credit money will be sent directly to the school but will be made payable to the parent.
