EITC: Educational Improvement Tax Credit
Did you know you can support PreK scholarships at Wonderspring and receive up to 100% PA tax credit?
The Educational Improvement Tax Credit Program (EITC) provides tax credits to eligible businesses contributing to a PreK scholarships.
Who is eligible?
Businesses authorized to operate in Pennsylvania who are subject to one or more of the following:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax
- Mutual Thrift Tax
- Malt Beverage Tax
- Retailiatory Fees Under Section 212 of the Insurance Company Law of 1921
PA Businesses can apply for EITC credits through DCED’s electronic single application system. The business application guide explains the process of applying. Tax credit applications will be processed on a first-come, first-served basis by day submitted. All applications received on a specific day will be processed on a random basis before moving on to the next day’s applications. Applications will be approved until the amount of available tax credits is exhausted. To learn more go HERE.
To learn more about other ways to support Wonderspring go HERE.