Educational Improvement Tax Credit
The EITC program provides businesses subject to Corporate Net Income, Capital Stock Franchise, Bank and Trust Company Shares, Title Insurance Companies Shares, Insurance Premiums, or Mutual Thrift Institution taxes with a tax credit for donations made to an education organization that provides tuition assistance to qualifying students. Tax credits are applied against the tax liability of a business for the tax year in which the contribution is made; credits can be equal to 75% of the company’s contribution up to a maximum of $200,000 per taxable year, and can be increased to 90%, if the business agrees to provide the same amount for two consecutive tax years. The one page application can be submitted by fax to Harrisburg.
Call Alan Schwartz, Development Director @ (717) 394-1742 for assistance.
St. Leo's gratefully acknowledges those companies that are participating in the program and designating St. Leo's as a recipient of this tuition assistance. Donors include:
Custom Tool & Die
Wire Mesh Products Inc.
Iron Compass Map
DBL Tank Services, Inc.
Penn Coat Inc.
Quality Digital Office Solutions