At TAX time ask your accountant if you qualify for EITC.
As a business owner, you have the unique opportunity to choose how to direct your state tax dollars to provide significant resources to educational non-profit institutions. St. Joan of Arc School in Dauphin County has been the beneficiary of EITC dollars enabling us to provide tuition scholarships for those interested in an education at St. Joan of Arc school who otherwise would not be able to afford this educational experience.
*****Please take this information to your accountant to see if you qualify. We can help you with the application. --- Apply Today!!! *****
What is EITC?
The Educational Improvement Tax Credit Program (EITC) is a way for businesses to direct their tax funds towards the private education of Pennsylvania’s students.
Not only does this improve a student’s chance to receive an education at a school of their choice, but it also results in a tax credit for the business involved - and the money stays in our community.
This program offered by the State of Pennsylvania, provides a win-win benefit to those businesses that qualify.
This is one of the few opportunities you’ll ever have to direct your tax dollars to a specific destination.
Tax credits equal to 75% of a contribution are allowed up to a maximum of $400,000 per taxable year. This can be increased to 90% of the contribution, if a business agrees to provide same amount for two consecutive tax years.
How Can You Participate?
If your business pays one or more of these taxes, you qualify for the EITC programs.
One-Page Form - Online
It really is as simple as verifying with your accountant that you qualify and then submitting an online application form to the Department of Community and Economic Development (DCED) in Harrisburg.
Applications are approved on a first-come, first-served basis by date received.
Why?
As a business, you want to ensure that we have the best education in our state.
In a broad sense, this program makes sure that there are educational choices for students.
It gives you the ability to help a student afford an educational opportunity they would otherwise not have.
Why Don't More Businesses Participate?
They don’t believe it is that easy.
They are reinvesting in their company; therefore, profits are minimal.
EITC funding has fluctuated, resulting in some businesses being waitlisted.
They have pass-through entity challenges.
It still seems too good to be true.
Call Deb Rizzotto at St Joan of Arc School at 717-533-2854 or [email protected]
*****Please take this information to your accountant to see if you qualify. We can help you with the application. --- Apply Today!!! *****
What is EITC?
The Educational Improvement Tax Credit Program (EITC) is a way for businesses to direct their tax funds towards the private education of Pennsylvania’s students.
Not only does this improve a student’s chance to receive an education at a school of their choice, but it also results in a tax credit for the business involved - and the money stays in our community.
This program offered by the State of Pennsylvania, provides a win-win benefit to those businesses that qualify.
This is one of the few opportunities you’ll ever have to direct your tax dollars to a specific destination.
Tax credits equal to 75% of a contribution are allowed up to a maximum of $400,000 per taxable year. This can be increased to 90% of the contribution, if a business agrees to provide same amount for two consecutive tax years.
How Can You Participate?
If your business pays one or more of these taxes, you qualify for the EITC programs.
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank and Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
- Personal Income Tax of S corporation shareholders or Partnership partners *** Yes – this is correct ***
One-Page Form - Online
It really is as simple as verifying with your accountant that you qualify and then submitting an online application form to the Department of Community and Economic Development (DCED) in Harrisburg.
Applications are approved on a first-come, first-served basis by date received.
Why?
As a business, you want to ensure that we have the best education in our state.
In a broad sense, this program makes sure that there are educational choices for students.
It gives you the ability to help a student afford an educational opportunity they would otherwise not have.
Why Don't More Businesses Participate?
They don’t believe it is that easy.
They are reinvesting in their company; therefore, profits are minimal.
EITC funding has fluctuated, resulting in some businesses being waitlisted.
They have pass-through entity challenges.
It still seems too good to be true.
Call Deb Rizzotto at St Joan of Arc School at 717-533-2854 or [email protected]
