Application for Parental Choice Tax Credit of up to $7,500 opens in Oklahoma after delay

Oklahoma’s Parental Choice Tax Credit portal finally opened Wednesday after delays due to technical issues. Parents who want to send their children to private school can now apply for a credit of up to $7,500 to cover tuition or other educational costs.

Oklahoma’s Parental Choice Tax Credit: Why has it been delayed?

In May of this year, Governor Kevin Stitt approved the Oklahoma Parental Choice Tax Credit Act. The Oklahoma Tax Commission, in partnership with Merit International Inc., administers the Parental Choice Tax Credit Program.

The Oklahoma Legislature approved $1 million for the tax commission for the program, but the commission is paying $3 million to Merit to administer the program. The additional $3 million would likely come from the overall budget for other Tax Commission services or tax credits.

Applications for the Oklahoma Parental Choice Tax Credit opened Wednesday afternoon. It was scheduled to begin last week but was delayed because some parents had not yet received the necessary forms.

“While most taxpayers have received the required forms and are ready to apply, some have not yet received their forms, and some taxpayers have received forms with incomplete or inaccurate information,” Merit International said in a previous statement.

In explaining its decision to delay the process, the Oklahoma Tax Commission said it was necessary to level the playing field for all parents because having a registration verification form is a required part of the application process.

In fact, the first step in applying to the program is receiving confirmation of enrollment from the school. After receiving the form, parents must verify their eligibility and apply for the program by visiting this link.

Parents must complete a separate form for each student. In addition to the above requirements, non-guardian applicants must complete and submit a Parental Consent Form available on the program website.

Governor Stitt will not apply for credit

Now that Oklahoma’s Parental Choice Tax Credit application portal is live, families across the state are competing to submit their applications. The Tax Committee can only approve $150 million in tax credits for tax year 2024, and these credits will be given priority.

Governor Stitt previously said he and his family plan to apply for the credit. But on Wednesday, the governor said he had decided not to apply for the Parental Choice Tax Credit in Oklahoma.

Abeail Cave, Stitt’s spokeswoman, said the governor encourages all Oklahoma families to apply for the tax credit. The spokesperson also said the governor decided not to apply to give other families a chance to receive the credit. Three of Stitt’s children attend private schools.

The Oklahoma Parental Choice Tax Credit provides tax credits of up to $1,000 for homeschooling families and $5,000 to $7,500 for private school families, depending on household income. The credit amount will be sent directly to the school but made payable to the parent.