Pennsylvania EITC Program
The EITC Program makes it possible for your business to direct its hard earned dollars to programs you value and reinvest in the future of your community.
Lancaster Education Foundation has been approved to receive donations through the Pennsylvania Educational Improvement Tax Credit (EITC) program. The EITC program gives tax credits to corporations who make donations to approved Educational Improvement Organizations.
As such, LEF contributes at least 80% of its annual EITC receipts as grants to the School District of Lancaster for innovative educational programs. These are programs that are not part of the regular academic program of a public school but that enhance the curriculum or academic program of the public school.
Pennsylvania companies who pay the types of taxes listed below and make a one-year donation commitment receive a 75 percent tax credit; those who make a two-year commitment receive a 90 percent tax credit. The tax credits may be applied to whichever tax the company chooses.
Eligibility – Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921