PA Tax Credit Programs

It has been advocated in Pennsylvania for years:  The Educational Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs now allow the business community to get involved with local education.  Instead of sending their tax dollars to Harrisburg, each of the two PA Tax Credit Programs enable companies to support local, non-profit, educational charities at a minimal cost.

Business in the Commonwealth of Pennsylvania may reallocate money that they pay for state taxes to offer tuition assistance at John Paul II Center. The EITC and the OSTC programs allow businesses to receive a 90% tax credit if donating for two consecutive years and up to 75% tax credit if donating for one. This means that if your business pays certain state income taxes, your donation could end up costing you almost nothing!  If your business pays one or more of these taxes, you qualify for both programs:

• Corporate Net Income Tax
• Capital Stock Franchise Tax
• Bank and Trust Company Shares Tax
• Title Insurance Premiums Tax
• Mutual Thrift Institutions Tax
• All Sub-Chapter S Corporations and other “pass through” entities (LLC, LLP, and other partnerships) that pay personal income tax on PA income.

The dollars that your business would pay to the State in taxes will instead be diverted to JPII, in satisfaction of your Pennsylvania tax liability.

A Special Thanks

We extend a special thanks to the following companies who are providing scholarship assistance for many students at JPII through EITC and OSTC for the 2015-2016 school years.

EITC:

• East Penn Manufacturing Company, Inc.
• Entech Engineering
• Tompkins VIST Bank
• Customers Bank
• National Penn
• JP Mascaro & Sons
• Berks County Community Foundation

OSTC:

• Berks County Community Foundation
• Customers Bank
• Freedom Auto Group
• Edwards Business Systems
• Entech Engineering

For more information on how you can join this list of participants and help the students at JPII, please contact Becky Burton, Advancement Director at JPII, at bburton@johnpauliicenter.org.