Educational Improvement Tax Credit (EITC)
Here’s how to make your state tax dollars work for nba官方正规买球网站
Pennsylvania’s Educational Improvement Tax Credit Program (EITC) allows qualifying businesses to redirect their state taxes from the Commonwealth of Pennsylvania to nba官方正规买球网站, where they will be put toward financial aid for our students who qualify.太棒了, nearly cost-free opportunity to make a difference in the lives of our students — nearly half of whom receive some form of financial aid.
EITC provides Pennsylvania companies with a 75% tax credit for donations to a non-profit scholarship organization like nba官方正规买球网站. If your business commits to making the same donation for two consecutive years, 你的税收抵免增加到90%.
Pennsylvania businesses that are subject to one or more of the following taxes may be eligible for EITC:
- 产权保险 & 信托公司股份税
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Retaliatory Feeds under 212 of the Insurance Company Law 1921
First-time applicants or applicants for one-year cycles must submit applications on 7月1日 每年.
Repeat / two-year cycle applicants must submit applications on 5月15日 每年. This due date applies if you are in your renewal year or if you are beginning a new, two-year cycle.
PLEASE NOTE: Businesses can begin the online application process at any time, but should not hit “submit” until the above due dates.
1. 以下是说明 that walk you through the application, step by step.
2. After completing the application on the applicable due date, you may fax or email it. (传真号码及电邮地址见下文). Please mail the signature page of the application to the DCED; they must receive it within 15 days of receiving your application via fax or email.
Department of Community and Economic Development
The Educational Improvement Tax Credit Program
Center for Business Financing - Tax Credit Division
3. Next, you’ll receive an approval letter from the DCED. You now have 60 days to write your check to nba官方正规买球网站 with “PA EITC Program” noted on it. 这是地址:
4. 最后, 收到你的支票后, nba官方正规买球网站 will send you the official acknowledgement and thank you letter. Send the DCED a copy of the thank you letter to confirm that you used your tax credits as promised. You have 90 days following receipt of the initial approval letter to send it to the DCED.
5. Know that your business has made a sound investment in educating the next generation of young minds and workers. nba官方正规买球网站 sincerely appreciates it!
If you have any questions about the EITC program or how to apply, please contact Jennifer K. Burns P'19 (Assistant Head of School: Advancement & 对外事务)，网址为jburns@solebury.Org或215.862.5261年,ext. 183.
*Students must be residents of Pennsylvania to receive EITC funding.