Education tax new name 2018

In 2018, the Education Tax Credit (ETC) was renamed the "Tax Credit for Contributions to Public Schools and Public Charter Schools" in the United States. This change was made as part of the Tax Cuts and Jobs Act (TCJA), which was signed into law on December 22, 2017.

Prior to 2018, the ETC allowed individuals and corporations to claim a tax credit of up to $250 per student for contributions made to public schools or public charter schools. The credit was designed to encourage donations to public schools and charter schools, which could then use the funds to support educational programs and activities.

Under the TCJA, the ETC was renamed and expanded to include contributions to public charter schools. The credit remains available for contributions made to public schools and public charter schools, and the maximum credit amount remains at $250 per student. However, the credit is now subject to a phase-out for higher-income individuals and corporations.

Here are the key changes to the Education Tax Credit (now known as the Tax Credit for Contributions to Public Schools and Public Charter Schools) in 2018:

• Renamed to "Tax Credit for Contributions to Public Schools and Public Charter Schools"
• Expanded to include contributions to public charter schools
• Maximum credit amount remains at $250 per student
• Phase-out for higher-income individuals and corporations
• New eligibility requirements for corporations and pass-through entities

It's worth noting that while the ETC was renamed in 2018, the credit itself remains available for contributions made to public schools and public charter schools.