EITC - Educational Improvement Tax Credit Program
Administered by the Pennsylvania Department of Community & Economic Development (DCED)
EITC Application EITC Tax Credit Designation Form
The Pennsylvania Department of Revenue established Act 4 of 2001 which authorizes awarding tax credits to businesses that contribute to a nonprofit scholarship organization. For businesses, this significantly reduces their state tax liability.
Your business is eligible to apply for EITC if you are subject to the following taxes:
Corporate Net Income Tax
Capital Stock Franchise Tax
Bank and Trust Shares Tax
Title Insurance Company Shares Tax
Insurance Premiums Tax
Mutual Thrift Institution Tax
Personal Income Tax of S Corporation shareholders
Personal Income Tax of Partnership partners
1. Complete the one-page Appendix I – SO Application for Scholarship Organization contribution and deliver via mail, fax, email, or in person to:
Department of Community and Economic Development
The Educational Improvement Tax Credit Program
Center for Business Financing - Tax Credit Division
Phone: 717-787-7120
Fax: 717-772-3581
Email: ra-eitc@state.pa.us
Applications are approved on a first-come-first-served basis by date submitted. Applications for program fiscal year 2011-12 (7/1/11 through 6/30/12) will be accepted beginning July 1, 2011. Applications for the second year of a 2-year commitment will be accepted beginning May 16 and no later than June 30 in order to be processed prior to any other applications.
Businesses that wish to apply for Personal Income Tax Credits for S Corporation Share holders, or Partners in a General or Limited Partnership, may not apply for credits until July 8, 2011. Any applications for Personal Income Tax Credits received prior to July 8, 2011, will be denied. This restriction does not apply to year two of a 2-year application, received between May 16 and June 30, 2011.
2. Upon approval by DCED you have 60 days to complete the “Designation of Education Improvement Tax Credit Scholarship” form and submit it with your contribution, to the Mennonite Foundation.
3. The DCED will notify the Department of Revenue to apply the tax credits against the appropriate taxes identified in your application.
You may find information about the Educational Improvement Tax Credit program at http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/educational-improvement-tax-credit-program-eitc (Click on Guidelines - EITC Business 2011 F.pdf). Page 7 of this site is the SO Application for Scholarship Organization. On this website Mennonite Foundation is listed among the scholarship organizations with the following contact information:
The Mennonite Foundation, Inc.
Post Office Box 483
Contact:
Nicole M. Shingle, representative
The Mennonite Foundation, Inc.
Mount
Phone: 717-653-6662
Fax: 717-653-6387
Email: Nikki.Shingle@mmapartners.org
Thank you for exploring this wonderful way to support families desiring Christian education for their children!