Pre-K Tax Credit Program
What is the Pre-K Tax Credit Program?
Pennsylvania’s Pre-K Tax Credit was established in 2003 through the Department of Community and Economic Development (DECD). The Commonwealth awards tax credits to operating businesses that support early learning organizations in order to help low-to-middle income families gain greater access to quality pre-K programs through scholarship assistance.
How does the Tax Credit work?
Instead of paying taxes directly to the Commonwealth, a business may instead support the PIC Pre-K Scholarship Program. An eligible business may receive a tax credit equal to 100% of the first $10,000 contributed to a Pre-K Scholarship Organization during the taxable year, and may receive a tax credit equal to 90% of any additional amount contributed, up to a maximum of $200,000.
Is my business eligible?
Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes:
· Personal Income Tax · Capital Stock/Foreign Franchise Tax
· Corporate Net Income Tax · Bank Shares Tax
· Title Insurance & Trust Company Shares Tax · Mutual Thrift Tax
· Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
· Malt Beverage Tax
· Retaliatory Fees under section 212 of the Insurance Company Law of 1921
How do I get started?
Additional information and online applications are available on the Pennysylvnia Department of Community & Economic Development website. But, the easiest way to get started is to call PIC Development Manager Karen Stachelek at 215-222-5480, ext. 341 or email firstname.lastname@example.org.
When are applications due?
You can submit online applications starting July 2, 2018. The applications are processed on a first-come, first-serve basis — so please don’t delay!
How does PIC’s Pre-K Scholarship Program Work?
The Parent-Infant Center partners with our friends at Children’s Village in order to offer this scholarship assistance to families at PIC. Children’s Village acts as the Pre-K Scholarship Organization and administers funds to PIC’s Pre-K Scholarship Program.
Please email Development Manager Karen Stachelek or call 215-222-5480, ext. 341 if you would like to know more about this program.