Educational Improvement Tax Credit Program (EITC)
Lancaster Early Education Center is as an approved Pre-K Scholarship Organization (PKSO). Businesses that contribution to a Pre-Kindergarten Scholarship Organization (such as Lancaster Early Education Center), may receive a tax credit equal to 100 percent of the first $10,000 contributed and up to 90 percent of the remaining amount contributed up to a maximum credit of $200,000 annually.
A Great Way for Businesses to Direct Their Tax Dollars – APPLY NOW
The EITC has accomplished what many in Pennsylvania have been advocating for years: to get the business community more involved in education. The EITC enables companies to support local non-profit charities, at a minimal cost, instead of sending their tax dollars to Harrisburg. It’s that simple.
The business community has overwhelmingly responded the challenge. Since the program’s inception, more than 23,500 business applications have been approved pledging in excess of $657 million dollars to the programs. The children of Pennsylvania thank you!
Under Article XVII-F of the Tax Reform Code of 1971, 72 P.S. Section 8701-F, et seq., the Educational Improvement Tax Credit (EITC) is to be administered by the Department of Community and Economic Development (the Department). Tax credits may be awarded to business firms that make contributions to Scholarship Organizations and/or Educational Improvement Organizations and/or Pre-K Scholarship Organizations contained on a list published by the Department. The current organizational lists can be found on the EITC web site, which is linked to the Department’s website, at www.newPA.com/EITC. A business firm may receive a tax credit equal to 100% of the first $10,000 contributed to a Pre-K Scholarship Organization during the taxable year, and may receive a tax credit equal to 90% of any additional amount contributed during the taxable year, up to a maximum of $200,000 per taxable year. Agreeing to a two-year commitment will have no impact on the tax credit calculations outlined in this section.