EITC & OSTC
Educational Improvement Tax Credits (EITC)
Your Pennsylvania Tax Credit Can Help Provide a Classical Education for a Future Leader. Please consider supporting Regina Luminis Academy and receive a tax credit for your business: Tax credits are available to eligible businesses contributing to a Scholarship Organization, an Educational Improvement Organization, and/or a Pre-Kindergarten Scholarship Organization.
EITC is a program that created a means for the business community to be involved with education, allowing the business community to support students of non-public schools by directing their tax payments through local non-profits as tuition assistance subsidies.
The Educational Improvement Tax Credit (EITC), provides companies:
75% tax credit for donations to a non-profit scholarship or educational improvement organization.
The tax credit increases to 90% if the company commits to making the same donations for two consecutive years.
A business paying taxes in Pennsylvania can receive up to $400,000 in tax credits annually. More importantly, the EITC provides children and families with a choice in their education and a chance in life. -Reach Foundation
FOLLOW 6 EASY STEPS:
Donor obtains a one-page PA tax credit application from:
Donor fills it out and mails to PA-DCED.
Donor will receive letter from PA with tax credit approval.
Donor, once approved, sends the check to a state approved Scholarship Organization and designates the school/s that the donor has chosen to support.
The Scholarship Organization will send a receipt to the Donor.
Donor applies EITC tax credit to PA tax return and takes the tax deduction on the Federal Tax return.
NOTE: S-Corps, LLCs and other pass through tax entities can pass the donation directly to the personal income tax of the business partners. It’s that simple!
Opportunity Scholarship Tax Credit Program (OSTC)
The program provides tax credits to eligible businesses contributing to an Opportunity Scholarship Organization.
Applying for OSTC Tax Credit: Currently, funding remains available through the OSTC program. To complete an online application, click here to be directed to the OSTC portion of the DCED website. In addition to the application, detailed OSTC guidelines for businesses and instructions on how to apply, can be found.