Grace Christian Academy

K-12 Private School

EITC and OSTC – Tax Credit Program

What is the EITC Program?

Through the Pennsylvania Educational Improvement Tax Credit Program (EITC), your business may submit state tax dollars to provide tuition assistance to North Rome Christian School families in need.

Basic Information

Your business may receive tax credits for donations to North Rome Christian School.

  • A tax credit may be awarded equal to 75% of the contribution amount for a 1- year contribution.
  • A tax credit may be awarded equal to 90% of the contribution for a 2 consecutive year commitment.
  • Total tax contribution may not exceed $750,000 per tax year.

Eligible Pennsylvania Business Taxes:

  • Corporate Net Income Tax
  • Capital Stock Franchise Tax
  • Bank & Trust Company Shares Tax
  • Title Insurance Companies Shares Tax
  • Insurance Premiums Tax
  • Mutual Thrift Institution Tax
  • Insurance Company Law of 1921
  • Malt Beverage Tax
  • Personal Income Tax – Subchapter s-corporations and other “pass-through”entities will be able to use the credit against the shareholder, member or partners’PA personal income taxes.

Application Timeline

July 1st

All businesses may apply.  The application is online at the Pennsylvania Department of Community & Economic Development (PA DCED).

You may contact the office for more information or assistance.  A booklet for your accountant is available and explains the tax formulas.

What is the OSTC Program?

Through the Pennsylvania Opportunity Scholarship Tax Credit Program (OSTC), your business may submit state tax dollars to provide tuition assistance to students who reside within the boundaries of a “low achieving school.”

Basic OSTC Information

$50 Million annually is allocated for this program by the state of Pennsylvania.

Your business may receive tax credits for donations to the OSTC program.

  • A tax credit may be awarded equal to 75% of the contribution amount for a 1-year contribution.
  • A tax credit may be awarded equal to 90% of the contribution for a 2-year (consecutive) commitment.
  • Total tax contribution may not exceed $750,000 per tax year.

Eligible Pennsylvania Business Taxes:

  • Personal Income Tax of S Corporation Shareholders or Partnership Partners
  • Corporate Net Income Tax
  • Capital Stock Franchise Tax
  • Bank & Trust Company Shares Tax
  • Title Insurance Companies Shares Tax
  • Insurance Premiums Tax
  • Mutual Thrift Institution Tax
  • Insurance Company Law of 1921
  • Malt Beverage Tax
  • Personal Income Tax – the same application as with the EITC program

Application Timeline

  • July 1

All businesses may apply. Applications must be done online.

For more details on how OSTC works, please go to the website for the Pennsylvania Department of Community & Economic Development (PA DCED).

Please contact the office for more information.