Pennsylvania EITC & OSTC
Win-win for your business and our students
The state of Pennsylvania’s Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs allow businesses in the Commonwealth to earn a tax credit for up to 90% of certain Pennsylvania taxes when they make a donation to a “scholarship organization” such as The Agnes Irwin School. If your business is subject to one or more of the following PA taxes, it is eligible to participate in this program.
- Corporate Net Income Tax
- Capital Stock Franchise Tax
- Bank & Trust Company Shares Tax
- Title Insurance Companies Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Institutions Tax
- Personal Income Tax of S corporation shareholders or partnership partners
The application process is simple, but application deadlines and timely compliance must be emphasized as there is a yearly statewide cap and tax credits are awarded on a first-come, first-served basis.
- Applications must be submitted electronically using DCED’s Single Application for Assistance. Hard-copy applications are longer accepted.
- Applications for the second year of a two-year commitment are due May 15.
- Applications for businesses who have fulfilled their two-year commitment and wish to renew their commitment are due May 15.
- Applications by new business should be submited by July 1 and are approved on a first-come, first-serve basis and dependent upon available funds.
- Pass-through entities, such as S-Corporations, Partnerships, LLCs, etc., can now apply the same day as C-Corporations.
For additional state information, please visit the EITC website and the OSTC website.
Funds received under these programs provide direct support to Agnes Irwin’s need-based, tuition assistance program. Please consider making it possible for even more qualified girls to attend AIS through this powerful program.
For additional information, you can contact Julie Kalis, Director of Major Gifts, at 610-672-1279 or firstname.lastname@example.org.