Eitc (Educational improvement tax credit)
OSTC (Opportunity Scholarship Tax Credit)
As a business owner in Pennsylvania, you have the unique opportunity to choose to redirect a portion of your state tax funds to an educational institution of your choice.The EITC and OSTC programs are the most effective way companies doing business in Pennsylvania can help our school. The money goes directly to a tuition scholarship fund that enables SLS to offer tuition assistance for those who otherwise would not be able to afford this educational experience.
The application process is simple. A business is approved for a tax credit up to 75-percent of its contribution to a scholarship organization, up to a maximum of $750,000 per taxable year. The tax credit may be increased to 90-percent by signing up for a two-year commitment! Plus, your company can claim the charitable deduction for the IRS.
There is an application online at www.newpa.com/eitc which is sent to the PA Department of Community and Economic Development. Your application can be approved in just 48 hours. The applications are processed on a first-come, first-served basis until the available tax credit money is exhausted. New applications are due July 1. Those applying for a second year and beyond will apply on May 1.
In addition, we are pleased to announce an opportunity to redirect your personal Pennsylvania state tax dollars to scholarships for students at Seton LaSalle Catholic High School! Now, individuals who pay $3,500 or more in state taxes annually can realize the same benefit through the Special Purpose Entity (SPE) program. Every year we have families who struggle to pay their tuition. Your contribution will help provide a Catholic education to a very deserving student. The process is very simple.
For more information about either program, please contact Lisa Osterhaus, President, at firstname.lastname@example.org or
(412) 561-3583 ext. 1009.