More about business donations:
PENNSYLVANIA EDUCATIONAL IMPROVEMENT TAX CREDIT (PA-EITC)
GET EASY PA TAX DEDUCTIONS BY CONTRIBUTING TO TALK INSTITUTE AND SCHOOL’S SCHOLARSHIP FUND
A gift to TALK Institute and School's scholarship fund can provide your business with a substantial tax credit through the Pennsylvania Educational Improvement Tax Credit Program (“EITC”).
Who May Be Eligible?
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
- Insurance Company Law of 1921
- Personal Income Tax of S corporation shareholders or Partnership partners
How Can My Business Participate?
By making a contribution to TALK's scholarship fund, your business may receive tax credits equal to 75% of your contribution up to a maximum of $750,000.00 per taxable year. The tax credit may be increased to 90% of the contribution up to a maximum of $750,000.00 per taxable year if you agree to provide the same contribution for two consecutive tax years.
To determine if you are an eligible business participant and to complete the on-line application, see newpa.com/eitc.
Business Application Timeline
May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 15/16 to renew their 2-year commitment.
May 15 – Businesses who are in the middle of their 2-year commitment.
July 1 – All other businesses including Pre-K business applications. Beginning in FY 15/16 business firms may agree to provide the same amount of contribution to a Pre-K scholarship organization for two consecutive years.
For questions, please contact 610-356-5566