Corporate Membership

Education Improvement Tax Credit Program

Eligibility: Businesses authorized to do business in PA that are subject to the following taxes: Corporate Net Income Tax; Capital Stock Franchise Tax; Bank and Trust Company Shares Tax; Title Insurance Companies Shares Tax; Insurance Premiums Tax; or Mutual Thrift Institution Tax. To receive tax credits, businesses must be approved to make contributions to Educational Improvement Organizations that are on a list of organizations published by the Department of Community and Economic Development; the World Affairs Council of Philadelphia is on that approved list

Uses: Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made

Where to apply: Department of Community and Economic Development Center for Business Financing in Harrisburg; contact – Ted Knorr at (717) 787-7120 or tknorr@state.pa.us

Amounts: Tax credits equal to 75% of company contribution up to a maximum of $200,000 per taxable year; can be increased to 90% of the contribution if business agrees to provide same amount for two consecutive tax years

Time Frame: Beginning May 1, 2009 applications for tax credits for program fiscal year 2009-2010 will be accepted. Tax applications are processed on a first-come first-served basis by day submitted.

Funds for the new fiscal year are usually exhausted on the first day that applications are proceeded so if you missed the May 1 date please make a note for next year