Pre – K EITC Tax Credit Program
United Way of Carlisle & Cumberland County-Success By 6 has been approved as a Pre-Kindergarten Scholarship Organization by the Pennsylvania Department of Community and Economic Development (DCED). This designation allows us to provide scholarship assistance for Pre-Kindergarten programs to children whose families are in financial need.
HOW DOES IT WORK?
In 2003, PA Act 48 amended the Educational Improvement Tax Credit (EITC) program to provide for the establishment of a Pre-Kindergarten Tax Credit for eligible businesses. A business may receive a tax credit equal to 100% of the first $10,000 contributed to Success By 6, and may receive a tax credit equal to 90% of any additional amount contributed during the taxable year, up to a maximum of $100,000 of tax credits per taxable year.
Applications for renewal of tax credits for a program fiscal year (July 1 through June 30) will be accepted beginning May 15.
Applications from businesses applying for the first time will be accepted beginning July 1.
Tax credit applications will be processed on a first-come first serve basis by day received. Early application is essential.
Applications are available at www.newPA.com, search for PKTC Business Guidelines, Appendix 1
•Complete application to DCED stating the amount of tax credit contribution your business will make to United Way of Carlisle & Cumberland County – Success By 6.
•Applications available at www.newpa.com, type in PKTC in search bar, go to PKTC Business Guidelines, Appendix I.
•Your business will receive written notification of approval from DCED.
•Send your contribution to United Way of Carlisle & Cumberland County – Success By 6, a Pre-K Scholarship Organization, within 60 days.
•United Way of Carlisle & Cumberland County – Success By 6 will send written acknowledgement to your business within 30 days.
•File your tax return as usual and claim tax credit for contribution