335-P: Credit for Corporate Contributions to School Tuition Organizations – Distribution to Corporate Partners (2024)
Arizona · Arizona DOR · Used for tax years 2024
Arizona Form 335-P reports a corporate partner’s share of a partnership’s credit for contributions to school tuition organizations. It lists the organizations and credit approval numbers and calculates the partner’s available credit using total contributions and the partner’s own
Who files this form
Partnerships distributing this credit to corporate partners must complete a separate Form 335-P for each corporate partner.
Corporate partners use the completed Form 335-P to complete their Form 335.
What you'll need
To complete Form 335-P, have:
- The partnership’s name and Employer Identification Number (EIN).
- The corporate partner’s name, EIN, and ownership percentage.
- Each school tuition organization’s name and credit approval number.
- The total contributions shown on Form 335, Part 1, line 13.
How to file
Partnerships:
- Complete Form 335-P for each corporate partner.
- Include a copy with your return.
- Provide a copy to the corporate partner.
- Keep a copy for your records.
Corporate partners:
- Use Form 335-P to complete Form 335.
- Include a copy of the completed Form 335-P with Form 335.
The form does not provide a mailing address or e-filing directions.
Common mistakes
- Missing copies: Partnerships must attach a copy to their return, provide a copy to the partner, and keep a copy. Corporate partners must include a copy with Form 335.
- Overlooking the deduction adjustment: The form notes that line 13 is the corporate partner’s portion of the charitable deduction to be excluded. Add this amount back when calculating Arizona taxable income.
Questions people ask
Does the partnership complete one form for all corporate partners?
No. Complete a separate Form 335-P for each corporate partner.
How is the corporate partner’s credit calculated?
Enter total contributions from Form 335, Part 1, line 13 on Form 335-P, line 11. Enter the corporate partner’s ownership percentage on line 12. Multiply line 11 by line 12 and enter the result on line 13.
Where does the corporate partner report the credit amount?
Enter the amount from Form 335-P, line 13 on Form 335, Part 1, line 12. Include a copy of the completed Form 335-P with Form 335.
Does the credit affect the charitable deduction?
Yes. The form identifies line 13 as the corporate partner’s portion of the charitable deduction to be excluded. Add that amount back in calculating Arizona taxable income.