Pennsylvania Educational Improvement Tax Credit (EITC) Program

Pennsylvania’s Educational Improvement Tax Credit program enables businesses to reduce their state tax liability by earning credits in exchange for a donation to an approved educational program.   HANNA Education Foundation has several EITC approved programs.

Why donate  through EITC?

By making a tax deductible donation through the EITC program, not only do you receive a reduction in your tax liability, but your company is making a positive impact in our community by supporting the enriching educational programs in the Susquehanna Township School District.

EITC provides companies with a 75% tax credit for donations to approved educational scholarship organizations. The tax credit increases to 90% if a company commits to making the same donation for two consecutive years. A business paying qualifying taxes in PA can receive up to $750,000 in tax credits annually. The state government allocates tax credits for education programs each year on a first-come, first-served basis until the credits run out.

Who qualifies?

The EITC program is available to businesses that file as S-Corporations, Partnerships, LLs or C-Corporations. Eligible taxes to which credits can be applied include:

  • Personal Income Tax
  • Capital Stock/Foreign Franchise Tax
  • Corporate Net Income Tax
  • Bank Shares Tax
  • Title Insurance & Trust Company Shares Tax
  • Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
  • Mutual Thrift Tax
  • Malt Beverage Tax
  • Retaliatory Fees under section 212 of the Insurance Company Law of 1921

When do you apply?

The deadline to submit your application for the EITC program is July 1, when making a one year commitment.  For two year applicants, the deadline is May 15.  Applicants are required to submit applications electronically.  Guidelines are available at the DCED website.   Please contact us with any questions.  

 

Thank you to past eitc donors

  • Centric Bank
  • First National Bank
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