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Tax opportunity helps students
Educational Improvement Tax Credit Program (EITC) provides scholarships to students in need of financial aid.
Program Information: Tax credits are available to eligible businesses contributing to a scholarship organization, an education improvement organization, or a pre-kindergarten scholarship organization.
Eligibility: Businesses authorized to do business in PA who are subject to one or more of the following taxes: Corporate Net Income Tax; Capital Stock Franchise Tax, Bank and Trust Company Shares Tax; Title Insurance Companies Shares Tax; Title Insurance Companies Shares Tax; Insurance Premiums Tax; or Mutual Thrift Institution Tax.
Uses: Tax Credits may be applied against the tax liability of a business for the tax year in which the contribution was made.
Amounts: Tax credits equal to 75% of its contribution up to a maximum of $200,000 per taxable year; can be increased to 90% of the contribution if business agrees to provide same amount for two consecutive tax years. For contributions to pre-kindergarten scholarship organizations, a business may receive a tax credit equal to 100% of the first $10,000 contributed and up to 90% of the remaining amount contributed, up to a maximum credit of $100,000 annually.
Terms: Applications processed on a first-come-first-served basis by day submitted; must provide proof to DCED within 90 days of the notification letter that the contribution was made within 60 days of the notification letter. Tax credit not used in the tax year the contribution was made may not be carried forward or carried back and is not refundable or transferable.
Guidelines:
EITC Business
Guidelines
Type of Business: Any business type
Size of Business: Any Size
Other Information:
Download Educational
Improvement Organization List
Download Scholarship
Organization List
FAQ: Guidelines (.pdf):
Scholarship
Organization
Educational
Improvement Organization
Pre-Kindergarten
Organization
Lists (.pdf):
Pre-Kindergarten
Scholarship List
