HOW YOU CAN GIVE TO ANGELS' PLACE INSTEAD OF PAYING STATE TAXES
The Commonwealth enacted the Educational Improvement Tax Credit Program to allow businesses to support education in
Pennsylvania. Angels' Place is included on the state's list of eligible scholarship organizations through which businesses can take advantage of the Pre-Kindergarten Scholarship Tax Credit to make tax-advantaged contributions.
If a business owes $10,000 in state taxes it can contribute $10,000 to Angels' place in lieu of paying that tax money to the state, as long as the supply of tax credits has not been exhausted. There is a minimum of paperwork. A business is eligible to participate if it pays one of these state taxes:
Corporate New Income Tax
Capital Stock Franchise Tax
Bank and Trust Company Shares Tax
Title Insurance Companies Shares Tax
Insurance Premiums Tax
Mutual Thrift Institutions Tax
Also, some businesses contribute more than $10,000, and receive a tax credit equal to 90% of any additional amount.
For more information, please contact Meliza Jackson at Angels' Place (412) 321-4447, or access www.newPA.com/EITC.
We gratefully appreciate our eight generous contributors who supported our 2007-2008 school year. Each of these are noted below (in alphabetical order):
All-Pak, Inc.
Allegheny Technologies, Inc.
Equitable Resources, Inc.
First Commonwealth Bank
Mine Safety Appliances Company
Oak Ridge Investment Group, LLC
PNC Bank -
Pittsburgh Market
UPMC Health Plan