Turn Your Tax Dollars Into Tax Credits
The Educational Improvement Tax Credit (EITC), provides companies with a 75% tax credit for donations to a non-profit scholarship or educational improvement organization. The tax credit increases to 90% if the company commits to making the same donations for two consecutive years. A business that pays taxes in Pennsylvania can receive up to $750,000 in tax credits annually. More importantly, the EITC provides children and families with a choice in their education and a chance in life. The YMCA of Indiana County is an approved educational improvement program, not a scholarship organization.
GIVING IS EASY! 1 application & 5 easy steps
- Businesses submit a one-page application to the Department of Community and Economic Development (DCED) indicating what amount they plan to contribute.
- The DCED will notify businesses that have been approved.
- After receiving the approval, business have 60 days to make the contribution to the EITC organization.
- Businesses must provide the DCED with a copy of the confirmation of contribution from the EITC organization (a letter of receipt).
- The DCED will communication with the PA Department of Revenue and applicable tax credit is applied to the business’ tax account.
Information You Need:
- New!! For 2013, the EITC application process has changed. Businesses who wish to be approved to use tax credits must submit applications on-line, beginning July 1. Businesses who are renewing their approval can do so beginning May 1 of each year.
- Pennsylvania Department of Community & Economic Development is the State’s website for the EITC.
- EITC Guidelines provides more information on the application, eligibility and use of the tax credit.
- Business Application Guide provides instructions for the new on-line application.
We are available to answer any questions about the state’s EITC program, the Pre-Kindergarten curriculum and are available to work with you or your accountant to help you complete the application.