Section 59-7-625 - Nonrefundable tax credit for a donation to the Carson Smith Opportunity Scholarship Program(1) A taxpayer that makes a donation to the Carson Smith Opportunity Scholarship Program established in Section 53E-7-402 may claim a nonrefundable tax credit equal to 100% of the amount stated on a tax credit certificate issued in accordance with Section 53E-7-407.(2) If the amount of a tax credit listed on the tax credit certificate exceeds a taxpayer's liability under this chapter for a taxable year, the taxpayer: (a) may carry forward the amount of the tax credit exceeding the liability for a period that does not exceed the next three taxable years; and(b) may carry back the amount of the tax credit that exceeds the taxpayer's tax liability to the previous taxable year.Amended by Chapter 466, 2024 General Session ,§ 15, eff. 7/1/2024, app. 7/1/2024.Amended by Chapter 262, 2022 General Session ,§ 7, eff. 5/4/2022, app. for a taxable year beginning on or after 1/1/2022.Added by Chapter 3, 2020SP4 General Session ,§ 13, eff. 1/1/2021.