EITC Program Details
A gift to St. Joseph School can provide your company with a substantial tax credit through the Pennsylvania Educational Improvement Tax Credit Program (EITC). By making a contribution for Grades K – 12 students, a company can receive PA State tax credits equal to 75% of its contribution up to a maximum of $400,000 per taxable year. This can be increased to 90% of the contribution, if a company agrees to provide the same amount for two consecutive tax years. A one-time donation for Pre-K students can result in a 100% tax credit for the first $10,000; and a 90% tax credit for the remainder up to $100,000.
Businesses authorized to do business in Pennsylvania 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
Insurance Premiums Tax
Mutual Thrift Institution Tax
Personal Income Tax of S corporation shareholders or Partnership partners
How do I participate?
Simply apply to the Department of Commerce and Economic Development (DCED) for the Educational Improvement Tax Credit Program (EITC). The online application and further details of the program are available on the Department’s website.