What is the Educational Improvement Tax Credit (EITC) program?
Pennsylvania has created and supported a transformational program that allow companies, and now individuals, who ordinarily pay state taxes to direct their tax payments to schools like Bethlehem Christian School to provide Financial Aid support for some of PA’s most deserving and qualified students and families. In exchange, participating businesses and individuals are given a tax credit for that year by the state.
The Educational Improvement Tax Credit (EITC) are designed to provide educational opportunities at schools like BCS for students who otherwise would be unable to attend. Tax credits are 90% for K-12. Help students in your community by paying your taxes to students in your community!
- Individuals who work for a for-profit company and pay individual Pennsylvania state income tax.
- Companies authorized to do business in Pennsylvania that are subject to one or more of the following taxes may apply:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921
How does it work?
Once an individual or business has been approved for EITC giving and makes an eligible donation, they receive a tax credit equal to 90% of the contribution if the business agrees to provide the same amount for two consecutive tax years at the time of the initial application.
- Determine your personal/corporate tax liability for the year
- Email firstname.lastname@example.org or call/text 610-442-5827