Tax Credit Program

Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes: 

• Corporate Net Income Tax
• Capital Stock/Foreign Franchise Tax
• Bank Shares Tax
• Title Insurance and Trust Company Shares Tax
• Insurance Premiums Tax
• Mutual Thrift Institution Tax
• Gross Receipts Tax
• Tax under the Insurance Company Law of 1921
• Personal Income Tax of S-Corporation shareholders or Partnership partners

On May 15, businesses who fulfilled their two-year commitment can reapply to renew their two-year commitment. Businesses in the middle of their two-year commitment can renew for a second year.

On July 1 all other businesses can apply.

Yes! In July 2019, Springside Chestnut Hill Academy (SCH) established a multi-member special purpose entity for the sole purpose of supporting EITC and OSTC scholarships at SCH. Some individuals may now be eligible for tax credits that were previously available only to businesses. An increasing number of donors in the SCH community have been taking advantage of this new opportunity. The tax benefit for individuals is the same as for businesses, but the process to apply for credits is slightly different. For more information, next steps, or to connect with an SCH family who participates in PA State Tax Credit Programs through personal taxes, contact Brooke Mattingly, Director of The SCH Fund, at bmattingly@sch.org.

Please read a more detailed description to determine if you are eligible:
SCH EITC Special Purpose Entity

Simply apply to the Department of Commerce and Economic Development (DCED) for the Educational Improvement Tax Credit program (EITC) or the Opportunity Scholarship Tax Credit (OSTC). 

• Applications are only accepted online.

• All applications are approved on a first-come, first-served basis by date received.

• Applications for 2019-202o will be accepted beginning July 2, 2020.

To apply: EITC
To apply: OSTC

The Department of Community and Economic Development (DCED) will send an approval letter to businesses that have been awarded tax credits. Please note that the timing of these letters varies from year to year. We will be in contact with businesses who have let us know about their application when there are any updates from DCED.

From the time the letter has been received from DCED, the business has 60 days to send its contribution to Springside Chestnut Hill Academy.

SCH Academy will issue a gift acknowledgement receipt which the business must send to the DCED within 90 days of the original approval letter. After sharing this written acknowledgement with the DCED, the business will receive the amount of tax credits outlined in the original approval letter.

The EITC program provides tuition assistance support to qualified students from low income households. The OSTC program is slightly more restrictive, in that the students must also live in school districts ranked in the bottom 15% in Pennsylvania. The tax benefits of these programs are exactly the same.

The budget and application for both programs are separate; businesses may apply for both programs within a given year.