EITC is a state-operated program in which tax credits are awarded to eligible businesses that make a contribution to an approved Scholarship Organization. These funds are then distributed in the form of scholarships to income-qualifying students.

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New Holland Early Learning Center Scholarship Organization is Everence Foundation (We are listed under Everence Foundation).

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Designate Tax Credit dollars paid to the Everence Foundation to be designated for the New Holland Early Learning Center.

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How do I know if my business is eligible?

Any business authorized to do business in the Commonwealth of PA and pays any of the following taxes is eligible.*

• Personal income tax of S-corp shareholders or partnership partners

• Corporate net income tax

• Capital stock/foreign franchise tax

• Bank shares tax

• Title insurance & trust company shares tax

• Insurance premiums 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

 

*    Such business firms include pass-through entities and special purpose pass-through entities.

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How much tax credit may my business receive through the tax credit contribution?

Pre-K: A business may receive a tax credit of 100% for the first $10,000 contributed to a Pre-K scholarship organization during the taxable year and may receive a tax credit of 90% of any additional amount contributed during the taxable year up to a maximum of $200,000 per taxable year. 

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Business Application Timeline

• May 15: Business applicants who have fulfilled their 2-year commitment and wish to reapply.

• July 1: All other businesses including initial applicants wishing to submit an additional application on top of their previously submitted
  2-year commitment.