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EITC Program
Educational Improvement Tax Credit Program
Where would you rather send your taxes - to Harrisburg or to Upland?
The Commonwealth of Pennsylvania provides generous tax credits to eligible businesses that give financial aid gifts to schools, including Upland Country Day School.
Almost $60 million is available on a first-come, first-served basis for contributions to scholarship organizations like Upland. In fact, to date, Pennsylvania businesses have donated over $1,600,000 (ranging in size from $2,500 - $100,000) to our financial aid program, making an Upland education affordable for scores of eligible families.
Tax credits start at 75% of the donation amount for a one year contribution, increase to 90% for a two-year contribution, and can be applied to as much as a $300,000 contribution each year. (Residual tax benefits can reduce the actual cost of the donation to almost nothing.) Re-Applications for tax credits for program fiscal year July 1 - June 30 will be accepted beginning May 15; first-time applications will be accepted on July 1.
The Commonwealth of Pennsylvania provides generous tax credits to eligible businesses that give financial aid gifts to schools, including Upland Country Day School.
Almost $60 million is available on a first-come, first-served basis for contributions to scholarship organizations like Upland. In fact, to date, Pennsylvania businesses have donated over $1,600,000 (ranging in size from $2,500 - $100,000) to our financial aid program, making an Upland education affordable for scores of eligible families.
Tax credits start at 75% of the donation amount for a one year contribution, increase to 90% for a two-year contribution, and can be applied to as much as a $300,000 contribution each year. (Residual tax benefits can reduce the actual cost of the donation to almost nothing.) Re-Applications for tax credits for program fiscal year July 1 - June 30 will be accepted beginning May 15; first-time applications will be accepted on July 1.
List of 3 items.
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Who is eligible to participate?
Businesses authorized to do business in Pennsylvania who are subject to one or more 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
- Personal Income Tax of S corporation shareholders or Partnership partners.
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Terms
An approved company must provide proof to DCED within 90 days of the notification letter that the contribution was made within 60 days of the notification letter; Tax credits not used in the tax year the contribution was made may not be carried forward or carried back and is not refundable or transferable. -
Where to Apply
DCED Center for Business Financing, Tax Credit Division, 4th Floor, Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120: (717)-787-7120 or RA-EITC@pa.gov. Applications are approved on a first-come-first-served basis by date received. First Time applications for FY18-19 will be accepted beginning May 14, 2018 and can be obtained from the Pennsylvania site directly.
For further information, contact Emily Neilson at 610. 444. 8114 or eneilson@uplandcds.org.
EITC and OSTC Contributors
- Aquaterra Technologies, Inc.
- Bryn Mawr Trust Company
- DNB First
- Edwards Business Systems
- J.P. Mascaro & Sons
- Kaolin Mushroom Farms
- Oxford Family Dentistry, LLC
- Roosevelt Dairy Trade
- The National Bank of Malvern
- UGI Energy Services
- Waste Management
- Willowdale Town Center
- Willis Towers Watson
