EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC) PROGRAM                     TIME SENSITIVE INFORMATION

OPPORTUNITY SCHOLARSHIP TAX CREDIT (OSTC) PROGRAM

Would you like to contribute more to support Sacred Heart’s students?

 If you own or work for a business authorized to do business in Pennsylvania and the business is subject to one or more of 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;

·         Mutual Thrift Institution Tax; or

·         Personal Income Tax of S corporation shareholders or Partnership partners.

 This may be for you! 

 Beginning July 1, 2013 your business can apply to have your tax credits equal to 90% of the contribution up to a maximum of $300,000 per taxable year with a 2 year commitment or 75% of the contribution for a 1 year commitment.

 Where and how to Apply  (Country Day School of the Sacred Heart is an approved Scholarship Program for both programs)

Complete the one page form online at www.newPA.com/eitc or see attached and email to: ra-eitc@pa.gov  

 Applications are approved on a first-come-first-served basis by date received.  Applications for 2013 - 2014 will be accepted beginning July 1, 2013 (May 15 – June 30 for pass through credits meaning those business that are going into their second year of commitment or completing their second year). For EITC, the allocated tax money was depleted with in the first week of July. OSTC money for 2012 – 2013 still remains.

To learn more about this program or if you have questions, please contact Kathy Gallagher at kgallagher@cdssh.org or 610-527-3915 X. 216.