Merit Shares Insights on the Oklahoma Parental Choice Tax Credit Program with KOCO News 5

OKLAHOMA CITY, Okla. (KOCO) - Applications opened for the new Oklahoma Parental Choice Tax Credit last week. The credit gives families tax cuts of up to $7,500 for enrolling their students in private schools for 2024 tax year.

The Oklahoma Tax Commission partners with Merit to bring the Parental Choice Tax Credit (PCTC) to Oklahoma families. Merit's COO, Jacob Orrin, visited KOCO 5 News to discuss the program. 

Orrin explained everything parents and schools need to know about the program, from how every family can participate, to how taxpayers and schools can apply for the program, and how the money will be distributed to families. 

The rollout came out with a bang, as Orrin stated that "in the first 90 minutes of opening the application, we had over 30,000 applications come in."

The first 60 days of the application period are optimized for families that make under $150,000 in adjusted gross income. He says that by doing so, it's giving priority to families of lower means to get into the program and help them make the right educational choice for their families.

Apply and learn more at https://www.parentalchoice.ok.gov/.