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Educational Improvement Tax Credit Print E-mail

Does Your Business Make Charitable Contributions?

Would You Like to Receive a Tax Credit for a Scholarship Donation?

Pennsylvania's Educational Improvement Tax Credit (EITC) program is the only state program in the U.S. that PAYS YOU BACK with tax credits for making scholarship donations to non-profits such as Penn Christian Academy. Qualifiying is easy - a simple application form establishes that you are authorized to do business in the Commonwealth of Pennsylvania and are subject to the following taxes:

Corporate Net Income Tax, Capital Stock Franchise Tax, Bank and Trust Company Shares Tax, Title Insurance Companies Shares Tax, Insurance Premiums Tax, or Mutual Thrift Insitutions Tax.

To receive tax credits for up to 90% of your contribution (if you agree to make the contribution for two consecutive tax years) once you have qualified, your business must contribute cash, personal property or specified services to a scholarship organization and/or educational improvement organization on a list published by the Department of Community and Economic Development (DCED). (Visit www.newPA.com for a current list.) If you designate your contribution to benefit Pre-Kindergarten students, you will receive tax credits equal to 100% of your contribution up to $10,000 and 90% of of any additional amount contributed. Application forms for the 2007-08 fiscal year are available through PCA and will be accepted by the DCED beginning July 2, 2007. For more information  contact PCA at (610) 279-6628.

 

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