Bridging education opportunities through public private partnerships

FAQs

What are Educational Improvement Tax Credits?

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What are Pre-Kindergarten Tax Credits?

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What are Opportunity Scholarship Tax Credits (OSTC)?

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What businesses qualify to participate in the EITC/OSTC?

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How much of a tax credit can I get for my business?

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What scholarship organizations can businesses contribute to in order to receive the credit?

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How do businesses know which scholarship and educational improvement organizations are listed?

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Can businesses contribute to more than one scholarship or educational improvement organization?

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What is the process for businesses to receive the tax credit?

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Where do I submit my educational tax credit application?

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When does a business that commits to the same contribution for two consecutive years apply for the EITC in the second year?

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When does a participating businesses that would like to apply for a new two-year commitment apply for educational tax credits?

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Must I contact the PA Department of Revenue upon receipt of notification of the credit?

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How do I claim the credit when filing a Corporate Tax Report?

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Must I adjust Federal taxable income for the amount of approved EITC in the calculation of Pennsylvania taxable income?

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May I elect to not use a net operating loss deduction in the calculation of the businesses corporate taxes?

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Which is used first to pay the tax, the EITC or cash?

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I had submitted cash payments to satisfy quarterly prepayment requirements. Can the EITC be used to substitute for the cash payments?

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May I assign all or a portion of the EITC to another account?

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May I transfer all or a portion of the EITC within a business' account for a prior or future year tax liability?

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Are there any additional forms that I should complete if I am using EITC credits against tax liability for a pss-through entity?

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Who can I call to verify postings of credits approved by DCED?

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Who do I call regarding the status of my application for EITC?

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