Commonwealth of Pennsylvania
Department of Community & Economic Development (DCED)
Center for Business Financing
Tax Credit Division
* Educational Improvement Tax Credit (EITC) is a tax credit program for Pennsylvania businesses that make a donation to an approved charitable organization which awards tuition scholarships. One of the organizations that administer EITC is Business Leadership Organized for Catholic Schools (BLOCS), www.blocs.org.
* Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes qualify to participate in EITC:
Bank and Corporate Net Income Tax
Capital Stock Franchise Tax
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
* A business may anticipate the following tax credit:
With a 1 year commitment to the program with a corresponding contribution, a business may obtain a 75% tax credit against state taxes owed.
With a 2 year commitment with corresponding contribution, a business may obtain a 90% tax credit against taxes owed.
On-line applications for a 1st year commitment must be received on July 1, 2018, which is the next application submission date. Donations will result in tuition scholarships awarded for the 2015-2016 school year.
On-line applications for a 2nd year commitment must be received before May 15, 2018. Donations will result in tuition scholarships awarded for the 2018-2019 school year.
* Applicants can access the electronic single application several ways from DCED’s website www.newPA.com. If you have a problem or question at any time during the application process, please contact DCED Customer Service at 1-800-379-7448.
* In addition our Development Director is available to assist with the application process. Please contact firstname.lastname@example.org or 215.884.0843