EITC A Win- Win!
PA’s Educational Improvement Tax Credit Program allows businesses to donate to approved Educational Improvement Organizations like TPP and receive tax credits. This program ensures that your PA taxes are benefitting your local community. Tax credits equal to 75% of the contribution up to a maximum of $750,000 per taxable year can be increased to 90% of the contribution if your business agrees to provide the same amount for two consecutive tax years.
How to Register with the Department of Communiy & Economic Development
Do you qualify?
Pennsylvania businesses or corporations can qualify if they pay any 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
Insurance Company Law of 1921
Personal Income Tax of S corporation shareholders or Partnership partners
2. Apply with DCED
Apply here
Specific Instructions for applying click here
May 16 – Business applicants who have fulfilled their 2-year commitment and wish to reapply to renew their 2-year commitment.
May 16 – Businesses who are in the middle of their 2-year commitment.
July 1 – All other businesses including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted 2-year commitment.
There is a limited amount of tax credits, so apply early!
3. Make your donation to TPP
Once your application has been approved by DCED, your business must contribute to TPP within 60 days.
You need to send proof of the contribution to DCED within 90 days of the approval.