The Educational Improvement Tax Credit (EITC) is administered by the Department of Community & Economic Development (DCED) under Act 48 and awards tax credits to businesses that make contributions to scholarship organizations and/or educational improvement organizations that are on a list approved and published by DCED.
WVCA is an approved educational improvement organization, therefore your tax dollars can help WVCA!
What are the benefits for businesses?
A business may receive a tax credit equal to 100% of the first $10,000 contributed to a Pre-K Scholarship Organization(s) and may receive a tax credit equal to 90% of any additional amount contributed during the taxable year, up to a maximum of $150,000 of tax credits per taxable year.
What businesses are eligible to apply?
Business that operate in the state of Pennsylvania and who are subject to:
- 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