For business owners only:
Educational Improvement Tax Credit Program
PA businesses have the power to redirect certain state taxes to scholarship organizations, providing school choice for parents while responsibly saving significant tax dollars for Pennsylvanians. (See student testomonies)
Do you currently pay any of the following Pennsylvania taxes?
Corporate Net Income Tax
Insurance Premiums Tax
Capital Stock Franchise Tax
Mutual Thrift Institutions Tax
Bank & Trust Company Shares Tax
Title Insurance Companies Shares Tax
When you designate your tax dollars specifically for Cornerstone Christian Preparatory Academy, they make school choice available for lower to middle income families who could not otherwise afford a private school education.
By making a two-year commitment, the business can receive a PA tax credit for 90% of the amount contributed. For a one-year commitment, the percentage is 75%. These are not deductions, but actual tax CREDITS.
The beauty of EITC however, is that it represents a unique opportunity for a business owner to redirect his or her tax dollars to support school choice and school improvement. This makes charitable giving a greater reality, with minimal or no net out-of- pocket contribution. An additional significant benefit is that because the cost of private schools is generally substantially lower than public schools, participation in EITC has saved billions of dollars for PA taxpayers.
Thank you for your consideration of how your business can choose to redirect tax dollars for the benefit of local students and our communities.
Action Steps:
1. Review program details
2. Sample computations for businesses.
3. Forward to your accountant for review.
4. Choose to redirect your tax dollars into educating students who will make a positive difference in our world.
5. For guidelines and the simple one page application
6. Contact Cindi McCall at (724) 941-1233 to discuss priority handling of the application- very important since there is a limit on tax dollars allocated for this program and new school year applications are accepted beginning on July 1 of each year.
A step-by-step guide for accountants is available at: http://www.paschoolchoice.org/reach/cwp/view.asp?A=11&Q=571938