What is EITC?
EITC (Educational Improvement Tax Credit) was enacted by the Pennsylvania State Legislature in 2003. It provides a tax credit to corporations who make donations to state-approved scholarship organizations that open doors of opportunity.
Why Donate through EITC?
Woodland Hills Foundation is an approved scholarship organization.
By making a tax deductible donation through the EITC program, not only do you receive a reduction in your tax liability, but your company is making a positive impact in our community by supporting the enriching educational programs in the Woodland Hills School District.
EITC provides companies with a 75% tax credit for donations to approved educational scholarship organizations. The tax credit increases to 90% if a company commits to making the same donation for two consecutive years. A business paying qualifying taxes in PA can receive up to $750,000 in tax credits annually. The state government allocates tax credits for education programs each year on a first-come, first-served basis until the credits run out. In effect, it costs businesses a dime to give a dollar.
What businesses and taxes are eligible?
The EITC program is available to businesses that file as S-Corporations, Partnerships, LLs or C-Corporations. Eligible taxes to which credits can be applied include:
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Personal Income Tax
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Capital Stock/Foreign Franchise Tax
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Corporate Net Income Tax
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Bank Shares Tax
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Title Insurance & Trust Company Shares Tax
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Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
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Mutual Thrift Tax
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Malt Beverage Tax
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Retaliatory Fees under section 212 of the Insurance Company Law of 1921
Application Deadlines
Returning businesses: apply online beginning May 15.
New to these programs? Apply online beginning July 1.
Please note that applications are accepted on a “first come, first served” basis, and EITC in particular runs out of funds quickly, so it is important for new businesses to submit on July 1.
For more information, click here