The Commonwealth of Pennsylvania offers a unique opportunity for businesses in the state to reduce tax liability by contributing to registered scholarship organizations. Gifts to scholarships at Revolution School can generate a tax credit equal to 75% of the contribution. Two-year commitments receive a 90% tax reduction.
If your business is authorized to operate in Pennsylvania and pays one of the following taxes, you can register to be eligible for the Pennsylvania Educational Improvement Tax Credit Program (EITC).
The single application is now available online from the Pennsylvania Department of Community and Economic Development. This document provides further information on the program as well as guidelines for filling out the application form. Additionally, you can call us at Revolution School for guidance at 215-631-3697.
EITC now allows individuals to give through a Special Purpose pass-through entity (SPE) that allows for the use of credits on joint personal income tax returns. The tax benefit for individuals is the same as for businesses, but the process to apply for the credits slightly different. For more information and next steps, call Revolution School at 215-631-3697.
At Revolution School, call 215-631-3697. At the Department of Community and Economic Development (DCED), call 717-787-7120 or find more information online at dced.pa.gov.
Once a business is eligible, the business has sixty (60) days to make its contribution to Revolution School. An approved company must provide proof to DCED within 90 days of the notification letter that the contribution was made within 60 days of the notification letter; Tax credits not used in the tax year the contribution was made may not be carried forward or carried back and is not refundable or transferable.