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EITC stands for Educational Improvement Tax Credit, a program offered by the Pennsylvania Department of Community and Economic Development (DCED) that allows businesses to receive significant tax credits when they contribute to state-qualified educational programming at The Pittsburgh Cultural Trust.
What programs are supported by EITC funding?
With legislation passed in 2008, participating businesses can earn up to $300,000 in tax credits per tax year, earning a 75% tax credit on their single year gift, or a 90% tax credit on their gift with a two-year commitment. Your business may be eligible to apply if it pays any of the following Pennsylvania taxes:
• Corporate Net Income Tax
• Capital Stock Franchise Tax
• Bank and Trust Company Shares Tax
• Title Insurance Companies Shares Tax
• Insurance Premiums Tax
• Mutual Thrift Institutions Tax
It Is Easy To Apply!
Step 1: Consult with tax advisor and determine eligibility
Step 2: Fill out a simple one-page form
Step 3: Submit application to the DCED on July 1*
For more information about donating through the EITC program contact Jenniffer Burke at 412-471-8711 or firstname.lastname@example.org. Guidelines and application information can be found at newpa.com. Just type “EITC” in the search field.
*Because the state has a limited amount of tax credits that can be awarded in a given year, and the benefits of the EITC program are so valuable, the application process is very competitive. Applications received by the DCED are processed in the order in which they are received.
The official registration and financial information of the Pittsburgh Cultural Trust may be obtained from the Pennsylvania Department of State by calling toll free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement.