PA Tax Credit Programs

Pennsylvania Educational Improvement Tax Credit (EITC) Program and
Opportunity Scholarship Tax Credit (OSTC)

If you own a business, the Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) programs could be right for you. They are great ways to support The Swain School and get a substantial tax credit for your business at the same time.

Every gift made by a Pennsylvania business through one of these programs helps us open our doors to talented students with limited financial means. Swain takes great pride in the socio-economic diversity of our school community, and we greatly appreciate all gifts that support this essential aspect of our mission.

What is the EITC program?

The EITC program is a tax credit program. Pennsylvania businesses can support approved scholarship granting organizations (like Swain) and receive a substantial tax credit.

By making a contribution to financial aid at Swain, a company can receive Pennsylvania state tax credits equal to 75% of its contribution up to a maximum of $400,000 per taxable year. This can be increased to 90% of the contribution, if a company agrees to provide the same amount for two consecutive tax years. The EITC website contains the most up-to-date information including rules, eligibility, and forms.

Who is eligible?

If you want to support Swain and you pay one of these 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 Institution Tax, or Personal Income Tax of S corporation shareholders or Partnership partners, you are eligible.

How do I participate?

The application is simple – just one page. The online application and further details of the program are available online – click here for more information. Applications for the EITC are submitted to the Department of Commerce and Economic Development (DCED).

WHAT IS THE OSTC PROGRAM?

The OSTC program is a tax credit program. It functions just like the EITC. The difference is that when Swain awards the scholarship money, it must go to a student living in the boundary area of a “Low Achieving School,” as designated by the state.

Who is eligible?

All the same companies that are eligible to make an EITC gift are also eligible to make an OSTC gift. So, if you want to support Swain and you pay one of these 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 Institution Tax, or Personal Income Tax of S corporation shareholders or Partnership partners, you are eligible.

How do I participate?

The application is a simple, one page document. The online application and further details of the program are available online – click here for more information. Applications for the OSTC program are submitted to the Department of Commerce and Economic Development (DCED).

TO APPLY:

The application process could not be simpler. Visit the EITC website, or contact Bob Haas by phone at 610-433-4542, ext. 114 or by email, or Dina Kovats-Bernat by phone at 610-433-4542, ext. 128 or by email. We welcome your questions, and we hope this program can work for you and your company.

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