Tax Credits
What Families Need to Know
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History & Intent of Program
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Legislation passed in 2023 has introduced the Oklahoma Parental Choice Tax Credit Program, providing significant school choice options for Oklahoma families. This program offers funding, distributed through two annual tax credit checks, to families enrolled in private education.
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Funding
The state has allocated $250 million for the 2025-2026 school year and subsequent years to cover approved expenses.
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Approved Expenses
Tax credit funds can be used to cover tuition, registration fees, materials, and activity costs.
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Tax Credits
The value of tax credits is tiered based on household income:
• Up to $75,000: $7,500 per child
• $75,001 - $150,000: $7,000 per child
• $150,001 - $225,000: $6,500 per child
• $225,001 - $250,000: $6,000 per child
• $250,001 and up: $5,000 per child
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Income Qualifications – The income used to calculate the level of credit an
applicant may receive is determined on the AGI of the parents/guardians
legally responsible for them. Those filing taxes jointly will be looking at
household AGI from 2 years prior (2023 tax year), and those filing separately
from their combined AGI from 2 years prior (2023 tax year).
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Priority Disbursement
• Households earning $150,000 or less will receive priority if submitted by April 18, 2025.
• Those in the priority earning bracket who have previously received approval for the tax credit will get highest priority.
• Applications submitted after this date will be processed on a first-come, first- served basis.
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Application Process
• One application per child is required.
• Applications must be submitted by a parent or legal guardian.
• The Oklahoma Tax Commission will notify applicants of approval or denial within 14 days.
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Credit Disbursement
• Credit checks will be mailed to CBA twice per year: once in August and once in January.
• Parents will need to endorse the checks over to the school.
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Key Dates for 2025/2026
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1. January 15 – Letter of Intent to return to CBA needed
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2. February 1 – Enrollment Verification Number (EVN) provided by CBA to each currently enrolled student returning in ‘25/26. This will be used to apply for the ‘25/26 credits.
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3. February 14 – Enrollment Verification Number (EVN) provided by CBA to each incoming student for the ‘25/26 year. This will be used to apply for the ‘25/26 credits.
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4. February 18 (9:00 AM) – ‘25/26 application goes live - https://oktap.tax.ok.gov/OKTAP/Web/_/#1
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5. April 18 – Priority income window closes – first-come-first-served begins (while funds remain).
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6. July 15 – Application window is closed.
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Frequently Asked Questions
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Will anything change at Central Baptist Academy?
No, Central Baptist Academy remains committed to its mission and will continue to provide a quality Christian education. We will maintain our class size limits and are currently planning for future growth through modular classroom expansion.
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What should current CBA families do?
CBA will provide information on the application process throughout the fall of 2024. Please watch for emails and newsletters.
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What should prospective families do?
To secure a spot for the 2025-2026 school year, it's recommended to complete the regular admissions process as soon as possible. Once enrolled, you will receive information on the tax credit application process.