EITC Program

This program, run through the Commonwealth of Pennsylvania, was designed to offer tax credits to eligible businesses with the credits being designated to a Scholarship Organization, an Education Improvement Organization, and/or a Pre-Kindergarten Scholarship Organization. York Country Day is an approved scholarship organization and is qualified to receive donations from corporations for financial aid through the EITC program.

Where can you find more information?

DCED Center for Business Financing, Tax Credit Division, 4th Floor, Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120. Phone: (717) 787-7120 or RA-EITC@state.pa.us. Applications are approved on a first come, first served basis by date received. Applications cannot be accepted before July 1 and tax credits are awarded on a first come, first served basis. If you are a first-time applicant or a renewal applicant, we encourage you to fax your application to the PA Department of Community Economic Development at (717) 772-3581 or email to raeitc@pa.gov. For more information, go to www.newpa.com/EITC.

EITC Guidelines are available here. Applications must be submitted electronically using DCED’s Single Application for Assistance.

EITC Guidelines

Business Application Guide

Business Application Timeline

  • May 15 – Business applicants who have fulfilled their two-year commitment and wish to reapply in FY 15/16 to renew their two-year commitment.
  • May 15 – Businesses who are in the middle of their two-year commitment.
  • July 1 – All other businesses including Pre-K business applications.
Pass-through entities, such as S-Corporations, Partnerships, LLCs, etc., can now apply the same day as C-Corporations. Applications must be submitted electronically using DCED’s Single Application for Assistance. Paper business applications will no longer be accepted. See the business application guide in the box above.

Uses

Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made.

Funding

Tax credits equal to 75% of its contribution up to a maximum of $750,000 per taxable year. Can be increased to 90% of the contribution, if the business agrees to provide same amount for two consecutive tax years. For contributions to Pre-Kindergarten Scholarship Organizations, a business may receive a tax credit equal to 100% of the first $10,000 contributed and up to 90% of the remaining amount contributed up to a maximum credit of $200,000 annually.

Eligibility

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

Terms

An approved company must provide proof to DCED within 90 days of the notification letter that the contribution was made within 60 days of the notification letter. Tax credits not used in the tax year the contribution was made may not be carried forward or carried back and are not refundable or transferable.

Mrs. Laura Burkey
Director of Development
lburkey@ycds.org
717-815-6713

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