Business Tax Credits Win-Win

Did you know that your business may be able to provide a child with an education at no cost to you, simply by applying for an Education Improvement Tax Credit? Pennsylvania businesses that fall into any of the following categories are eligible to apply:

Personal Income Tax  from S Corporation
Personal Income Tax from Partnership Pass through
Corporate Net Income Tax
Capital Stock Franchise Tax (S Corporations)

You can receive a 100% tax credit for up to the first $10,000 contributed to Child Development Centers, Inc during the taxable year.  Applications for 2009-2010 will be accepted beginning July 1, 2009.  Find out more at www.newpa.com or by contacting Child Development Centers, Inc.

“It’s a lot easier to sign a check to the Child Development Centers than to the IRS” Dave Ballard, Franklin Insurance Agency Inc.

Your contribution to a local child’s education today is an investment in our community’s future.

3 comments

1 Jason Wible { 04.10.09 at 2:01 pm }

This tax credit is truly win-win. If you have a business that is a parternship, LLC, or an “S” or “C” corporation, you can make a donation FREE! It sounds too good to be true, but it is true. Most PA taxes, franchise or pass-through income tax, can be 100% deferred to CDC instead of the PA Dept of Revenue. This state program has been in place for a while, and my company as well as many other local companies have been taking full advantage of this great program. If you’d like to do something great with your tax dollars for a change, THIS IS IT!!

2 Amy Culp { 04.10.09 at 2:19 pm }

This partial funding of tuition payments has had a positive financial impact to our family. Ultimately the abilities that my child gained from the center will not only prepare him for kindergarten, but has formed a solid foundation for his academic career. The Tax Credit Scholarship program has attributed to building this solid foundation. This program is a great way for businesses to positively impact and ‘give back’ to their respective communities without the need to search for additional funding. It is important for smaller communities like ours to look for alternative ways to better improve the future; especially during an economic ‘correction’ as the one we are experiencing now. This program of re-directing tax dollars and keeping them local allows companies to participate without finding additional funds. The simple re-directing of tax dollars is such a win-win situation I hope that more local companies become involved and re-direct their tax dollars to help build more solid academic foundations in our community.

3 David Ballard { 04.13.09 at 2:40 pm }

If you are looking for a great way to redirect tax money, funnel it back to our economy and help a child with their education this is it. This will be our 3rd year to participate and it’s a no brainer. If you may be a little skeptical check with your accountant.