cislv


	Educational Improvement Tax Credit Tax credits are awarded to businesses that make contributions to organizations included in a list published on the DCED web site by the PA Department of Community and Economic Development. Communities In Schools has been approved by DCED to receive tax credit contributions. The application for businesses to apply for credits is also contained on the DCED web site. Businesses must be approved for tax credits BEFORE making a contribution to an organization.

	Eligibility Companies conducting business in Pennsylvania , subject to the following taxes: Corporate Net Income Tax Title Insurance Companies Shares Tax Capital Stock Franchise Tax Insurance Premiums Tax Bank and Trust Company Shares Tax Mutual Thrift Institutions Tax Options 90% tax credit for two-year contributions to a listed scholarship or educational improvement organization (maximum is $200,000/year) 75% tax credit for one-year contributions to a listed scholarship or educational improvement organization (maximum is $200,000/year) One year contributions of up to $100,000 may also be made to a listed pre-K program. Please see DCED web site for restrictions. Deadlines For businesses planning to make a contribution during the state's fiscal year July 1-June 30: Businesses submitting an EITC application for the first time should fax the application to DCED after midnight on July 1. Earlier submissions will not be processed. Businesses submitting an EITC application for year 1 of a two-year commitment, should also fax their application to DCED after midnight on July 1. Business submitting an EITC application for year 2 of a two-year commitment should submit their application to DCED after May 15, but before June 30. Questions Contact Communities In Schools of the Lehigh Valley at 610-969-2697 or via e-mail at info@cislv.org . You may also request a worksheet to help track EITC contributions to insure your company receives its approved PA tax credit. Communities In Schools encourages businesses to consult a tax advisor before applying for tax credits
	COMMUNITIES IN SCHOOLS OF THE LEHIGH VALLEY P.O. Box 722, Allentown, Pa. 18105 * Tel: (610) 969-2697 * Fax: (610) 969-2699 E-mail CIS Lehigh Valley at: info@cislv.org