Education Improvement Tax Credit
Click here for a video explaining the EITC program.
HB 996, the Educational Improvement Tax Credit (EITC) has three programs available for companies to choose from.
Program 1 (Grade K-12): Provides companies with a 75% tax credit for donations to a non-profit scholarship or educational improvement organization that commits to making the donation for a one year commitment. A business paying taxes in Pennsylvania can receive up to $300,000 in tax credits annually.
Program 2 (Grade K-12): Provides companies with a 90% tax credit for donations to a non-profit scholarship or educational improvement organization that commits to making the same donations for two consecutive years. A business paying taxes in Pennsylvania can receive up to $300,000 in tax credits annually.
Program 3 (Pre-K): Provides companies with a 100% tax credit for the first $10,000 and 90% thereafter for donations to a non-profit scholarship or educational improvement organization that commits to making the donation for a one year commitment. A business paying taxes in Pennsylvania can receive up to $150,000 in tax credits annually.
The EITC program provides children and families with a choice in their education and a chance in life.
Guidelines for Businesses
- 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
New for the 2008-2009 fiscal year, subchapter S-corporations and other "pass through" business entities will be able to use the credit against PA personal income taxes from the PA business income of the "pass-through" entity.
Thank you to the following businesses who are providing tuition assistance to our families through Pennsylvania's Education Improvement Tax Credit (EITC) Program. If you would like to know how your business can participate in this incredible opportunity, please contact Patricia Cook: (717)-295-6427; pcook@dayspringchristian.com.
Thank you to:
Alan Manufacturing Co., Inc.
Amelia's Grocery Outlet
D.H. Funk & Sons, LLC
Dovetail Marketing, Inc.
Ephrata National Bank
Food Management Systems, Inc.
Graystone Bank
HomeTowne Heritage Bank - A Division of National Penn Bank
Insurance Acquisitions / Avis Insurance
It's A Celebration Party Store
Landis Financial Advisors, Inc.
MillCreek Drywall, Inc.
Nehemiah Construction Corporation
North East Time Systems Corporation
Respitech Medical, Inc.
River Valley Landscapes, Inc.
Scenic Ridge Construction Company
Sharp Shopper, Inc.
Spiziri Insurance Associates
Thomas Trading, Inc.
Zimco Partners, LP
Below is an excerpt from an article REACH published featuring one of Dayspring's students.
(HARRISBURG, PA - August 4, 2009) Eric Pettis, a Lancaster resident, credits his school and his teachers for his lifestyle. An incoming senior at Dayspring Christian Academy, Eric attends the school of his parents choice because of a scholarship he receives from the Educational Improvement Tax Credit (EITC) Program. Read more...