Pa. Educational Improvement Tax Credit Program (EITC)
The Pennsylvania Educational Improvement Tax Credit Program Information for Businesses
If you’re a business owner, you can reduce your state tax liability by making contributions to Our Lady's Christian School through the Diocese of Erie Star Foundation. For information and an application, please go to: http://www.eriercd.org/tuition.asp The EITCprogram enables your business to:
• Receive a tax credit equal to 75 percent of your contribution to the STAR Foundation, up to a maximum of $200,000 per taxable year.
• Increase the tax credit to 90 percent of your contribution if the business agrees to provide the same amount of contribution to an organization for two consecutive years.
• For contributions for pre-kindergarten scholarships, receive a tax credit equal to 100% of the first $10,000 contributed and up to 90% of the remaining amount contributed up to a maximum credit of $100,000 annually.
How it works
1. Complete and submit an EITC application with the PA Department of Community and Economic Development (DCED), which will then determine whether your business qualifies for the credit. The application is a very simple, one-page form.
2. Confirmation letters are generally sent within 10 business days. Once confirmation is received, the business has 60 days to make a donation to the STAR Foundation.
3. Be sure to designate your contribution for St. Jude School. Any funds not designated will be distributed throughout the diocese.
4. Notify St. Jude School of your contribution.
For more information
Department of Revenue Customer Service Department of Revenue Customer Service (Click on “Find Answers” and type “EITC” in the Search window)
Or contact Development Office Phone: (814) 838-0908