EDUCATIONAL IMPROVEMENT TAX CREDIT
Every year, dozens of area companies choose to donate through the Pennsylvania Tax Credit Program to help families within Luzerne County send their children to school. Without these scholarships, many children would not get the quality educations they need to succeed.
2015 Quick Facts
Total Funds Distributed: $204,000 Total Scholarships Funded: 82 kids
Total Funds Distributed: $134,246 Total Scholarships Funded: 70 kids
Credits used to fund scholarships for low-to-moderate income families so their children can attend pre-kindergarten learning programs.
- Child Development Council of NEPA (Wilkes-Barre & Hazleton)
- Catholic Social Services (Hazleton)
- Wyoming Valley Children's Association
- Allied DePaul School for Dyslexia - Credits used to help children overcome learning disabilities so they can return to conventional classrooms equipped with the academic skills & confidence they need to succeed
- Wyoming Seminary - Credits used to help academically qualified students receive a first-class education that otherwise would not be possible
- Diocese of Scranton - Credits used to help children of low-to-moderate income families receive scholarship assistance
EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC)
Not Currently Participating?
Do you pay one of the following taxes?
- Corporate Net Income Tax
- Bank and Trust company Shares Tax
- Title Insurance Companies Shares Tax
- Capital Stock Franchise Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
If you do, you could be receiving tax credit!
If you do business in the Commonwealth of Pennsylvania and pay one of the above taxes, you would be eligible for the following Tax Credit Programs:
Pre-Kindergarten Tax Credits:
A business 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 annually.
Scholarship Organization Tax Credits:
A business may receive a tax credit equal to 75% of its contribution to a Scholarship Organization that is included on the current list published by the Department, up to a maximum of $400,000 per taxable year. The tax credit may be increased to 90% of the contribution, if business agrees to provide same amount for two consecutive tax years.
For more information on how you can receive tax credits by donating to United Way of Wyoming Valley and to receive an application, please contact Nina C. Dei Tos, MPA Vice President of Resource Development at email@example.com or (570) 270-9103
For more information visit the Educational Improvement Tax Credit Program (EITC) website, CLICK HERE