The state of Arizona allows C-corporations, S-corporations, and insurance companies to participate in the tuition tax credit program for private education.
Companies are allowed a tax credit of up to 100% of their state income or insurance premium tax liability. There is no maximum dollar amount a corporation can take as a credit as long as it does not exceed the annual statewide cap at the time it applies for its credit
Beginning July 1, 2017, the program's annual cap is $74.3 million. By statute, the cap grows 20% annually.