Pennsylvania’s Educational Improvement Tax Credit (EITC) program

This program allows businesses in the Commonwealth to earn a tax credit equal to 75% of their charitable contribution amount (up to a maximum of $750,000 per taxable year), when they make a gift to an educational organization such as Greene Towne. The application process is simple but timely compliance with the July 1st application date is necessary because typically the amount of available tax credits is quickly exhausted. To apply, businesses must be subject to one or more of the following taxes:
·     Personal Income Tax
·     Capital Stock/Foreign Franchise Tax
·     Corporate Net Income Tax
·     Bank Shares Tax
·     Title Insurance & Trust Company Shares Tax
·     Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
·     Mutual Thrift Tax
·     Malt Beverage Tax
·     Retaliatory Fees under section 212 of the Insurance Company Law of 1921

Apply for EITC

For additional information, please email or call Bonnie Clark, Director of Development, at 215-563-6368.
 

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