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Pennsylvania Educational Improvement Tax Credit Program

What is it? The Commonwealth of Pennsylvania enacted the Educational Improvement Tax Credit Program (the “EITC Program”) in 2001 in order to allow businesses to support education in Pennsylvania. Through the EITC Program certain businesses can make donations to a school’s EITC-registered scholarship fund and in return receive a credit against its Pennsylvania taxes that would otherwise be due.

AQUINAS ACADEMY HAS AN EITC-REGISTERED SCHOLARSHIP FUND

Through EITC contributions, Aquinas Academy was able to award over 39 students Financial Aid Scholarships during the 2014-2015 school year.

Is your business eligible to participate in the EITC Program?

A business is eligible to participate in the EITC Program if the business pays one of the following Pennsylvania 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
  • Personal Income Tax of S Corp shareholders and Partnership partners in a general or limited partnership

How does your business apply to participate in the EITC Program?

A business applies to participate by completing a simple one-page application form (Appendix 1-SO). The form MUST BE COMPLETED ELECTRONICALLY online through the Department of Community and Economic Development’s (“DCED”) website www.newpa.com. For further information or questions, you can reach DCED at (717)787-7120.

Assistance is also available in the office of the business manager at Aquinas Academy (724-444-0722 ext. 19).

Please help us strengthen our school and community by participating in the program.

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