Pennsylvania’s EITC Program
Pennsylvania Education Improvement Tax Credit
The York County Alliance for Learning (YCAL) is an approved education improvement organization under the Education Improvement Tax Credit Program (EITC).
The Education Improvement Tax Credit (EITC) awards a tax credits to operating businesses that make contributions to Education Improvement Organizations such as YCAL. Entities eligible to apply for EITC’s are businesses authorized to do business in the Commonwealth of PA that are subject to 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 Institutions Tax
A business will be approved for a tax credit equal to 75% of its contribution to the listed organization, up to a maximum of $300,000 per taxable year. The tax credit may be increased to 90% of the contribution made, up to a maximum of $300,000 per taxable year, if the business agrees to provide the same amount of contribution for two consecutive tax years. In order to receive and retain the 90% tax credit, the business must make the same amount of contribution in each of the two consecutive tax years.
For more information on the EITC program, please visit www.newpa.com/eitc.
Please be sure to indicate on YCAL’s Investor Application that your contribution is EITC eligible.