EITC
CCHS is eligible to receive support as an educational improvement organization through Pennsylvania’s Educational Improvement Tax Credit (EITC) program. The EITC program enables Pennsylvania-based businesses to receive generous tax credits by contributing to qualified organizations. We use EITC contributions to help fund a wide variety of educational programs for approximately 6,000 students annually.
We recognize EITC donors by thanking them in our newsletter, which is circulated to over 3,500 households, on our website, and with signage in our lobby.
FAQs:
Is my business eligible to participate in EITC?
Yes, if your company is authorized to do business in PA and is 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; Title Insurance Companies Shares Tax; Insurance Premiums Tax; or Mutual Thrift Institution Tax.
How much credit can a business receive?
Businesses can receive tax credits up to 75% of its contribution, up to a maximum of $300,000 per taxable year. Credits can be increased up to 90% of the contribution, if the business agrees to provide the same amount for two consecutive tax years.
Does signing up require a lot of paperwork and red tape?
No! The process can be completed in three easy steps:
1. Visit the Department of Community and Economic Development’s EITC website [http://www.newpa.com/programDetail.aspx?id=62]. You’ll need to download and submit the one-page “Application for Educational Improvement Tax Credits – Educational Improvement Org”(note that there is a separate application for scholarship organizations). DCED accepts applications beginning July 1 for that fiscal year (July 1 through June 30), and processes them on a first-come, first-served basis.
2. Once your business is approved, you have 60 days to make a contribution to CCHS. We will then send you a prompt acknowledgement.
3. Return the acknowledgement to DCED within 90 days. DCED then notifies the Department of Revenue to apply the tax credits against the appropriate taxes you identified in your application.
If I have questions?
Contact the CCHS Development Office at 610-692-4800, x-267; or DCED Center for Business Financing at (717)-787-7120 or tknorr@state.pa.us
CCHS is eligible to receive support as an educational improvement organization through Pennsylvania’s Educational Improvement Tax Credit (EITC) program. The EITC program enables Pennsylvania-based businesses to receive generous tax credits by contributing to qualified organizations. We use EITC contributions to help fund a wide variety of educational programs for approximately 6,000 students annually.
We recognize EITC donors by thanking them in our newsletter, which is circulated to over 3,500 households, on our website, and with signage in our lobby.
FAQs:
Is my business eligible to participate in EITC?
Yes, if your company is authorized to do business in PA and is 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; Title Insurance Companies Shares Tax; Insurance Premiums Tax; or Mutual Thrift Institution Tax.
How much credit can a business receive?
Businesses can receive tax credits up to 75% of its contribution, up to a maximum of $300,000 per taxable year. Credits can be increased up to 90% of the contribution, if the business agrees to provide the same amount for two consecutive tax years.
Does signing up require a lot of paperwork and red tape?
No! The process can be completed in three easy steps:
1. Visit the Department of Community and Economic Development’s EITC website [http://www.newpa.com/programDetail.aspx?id=62]. You’ll need to download and submit the one-page “Application for Educational Improvement Tax Credits – Educational Improvement Org”(note that there is a separate application for scholarship organizations). DCED accepts applications beginning July 1 for that fiscal year (July 1 through June 30), and processes them on a first-come, first-served basis.
2. Once your business is approved, you have 60 days to make a contribution to CCHS. We will then send you a prompt acknowledgement.
3. Return the acknowledgement to DCED within 90 days. DCED then notifies the Department of Revenue to apply the tax credits against the appropriate taxes you identified in your application.
If I have questions?
Contact the CCHS Development Office at 610-692-4800, x-267; or DCED Center for Business Financing at (717)-787-7120 or tknorr@state.pa.us
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