Pennsylvania Educational Improvement Tax Credit (EITC)

Opportunity Scholarship Tax Credit Program (OSTC)

Do You or Your Business Pay PA State Taxes? Would You Prefer To Direct Those Tax Dollars to Berks Catholic Student Scholarships? THEN OSTC IS FOR YOU!

Who Can Participate? Any business entity EXCEPT sole proprietorships can participate.

How Much Of My Tax Liability Can I Donate Through OSTC? Your maximum contribution of $750,000 per tax year will allow you to receive up to a 90% tax credit for a two year commitment and up to a 75% tax credit for a one year commitment. Your contribution can also be deducted from your Federal taxes.

How Much Of My Contribution Goes To The School(s) I Designate? 100% of all OSTC contributions go directly to the school(s) designated by the business donor.

How Do I Apply?

September 2014 – June 30, 2015  Go to www.newPA.com and complete the Single Online Application. For Step-by-Step directions on how to complete the online application is on the same website under Opportunity Scholarship Tax Credit and scroll down to Businesses – Application Guide for Businesses For application submission support call Barbara Ann Shotwell 610-871-5200 Ext. 244

7 – 10 Business days after application is submitted  Business will receive approval letter from Dept. of Community & Economic Development(DCED)

Within 60 Days from Date of Approval Letter Business must make contribution to Eastern PA Scholarship Foundation and mail to EPSF Diocese of Allentown, PO Box F, Allentown, PA 18105-1538. Be sure to designate BCHS as the recipient of the funds.

Within 90 Days from Date of Approval Letter  Business must send copy of EPSF acknowledgement letter to DCED

If Business Intends to Pass-through Tax Credits to Personal Tax Returns of Shareholder, Partners, etc.  Business must file a Rev-1123 form with the PA Dept. of Revenue prior to or with their PA business tax return.

Who Can I Contact To Learn More About Making An OSTC Contribution to EPSF? Janis Geist, (610) 871-5200, Ext. 244 Email: [email protected]