PA EDUCATION IMPROVEMENT TAX CREDIT PROGRAM
Corporations paying tax to the Commonwealth of Pennsylvania may be eligible for the EITC program by making a contribution to The Rock School’s community outreach program. All EITC donations support RockReach, The School's multifaceted outreach program that annually serves over 10,000 Philadelphia youths.
The Education Improvement Tax Credit Program (EITC) of the Department of Community and Economic Development (DCED) of the Commonwealth of Pennsylvania allows businesses to reduce their state tax liability – equal to 75% of your contribution to The Rock School for one year, or 90% for a two year commitment.
For Example: A $10,000 gift to The Rock School in a given year is a $7,500 tax credit for your company OR a $20,000 gift to The Rock School over two years is an $18,000 tax credit for your company.
Eligible tax liabilities against which credits may be applied include: 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; or Personal Income Tax of S corporation shareholders or Partnership partners.
PROCESS FOR EITC
- Visit the PA DCED EITC site.
- Under “Where to Apply”, click on “EITC Business Guidelines” to download application.
- Read Application packet carefully and fill out the form Appendix I-EIO. This form will be used to approve your business for tax credits. Applications for the program fiscal year are now being accepted and are processed on a first come-first serve basis.
- Send application form to:
Department of Community and Economic Development
The Educational Improvement Tax Credit Program
Center for Business Financing - Tax Credit Division
400 North Street, 4th Floor
Commonwealth Keystone Building
Harrisburg, PA 17120-0225
Telephone: (717) 787-7120
Fax: (717) 772-3581
- After receiving written certification for tax credits from DCED, a contribution must be made to The Rock School within 60 days.
- The Rock School will confirm receipt of your contribution for our education programs in writing.
- Submit letter from The Rock School to the DCED. Upon receiving this letter, DCED will notify the Department of Revenue to provide the tax credit to your business.