OSTC/EITC Tax Credit Scholarships
The EITC/OSTC tax credit program gives eligible businesses and individuals the ability to redirect their taxes to be turned into scholarships for students residing in a neighborhood with a failing school district. In return, the business/individual receives a tax credit. A one-year commitment equals 75% tax credit, and a two-year commitment equals a 90% tax credit.
In order to be able to participate in the EITC/OSTC program, an individual or business needs to complete a simple application that gets submitted to the Department of Community and Economic Development (DCED). Once the application is approved the business/individual has 60 days to send their donation to the scholarship organization. Once the donation is received, the confirmation receipt must be sent to DCED within 90 days. The DCED will then notify the PA Department of Revenue to have the credit applied to the taxpayer’s account.
Liguori Academy recognizes EITC/OSTC donors by giving them the opportunity to name their scholarship grant. There are also opportunities to visit the school and meet the students who benefit from their donation.
For more information please contact Jeff Wilson at email@example.com.