The EITC program is a mechanism to allow companies to support innovative educational programs in exchange for a reduction in state tax. In 2024, the Greater Wilkes-Barre Chamber of Business & Industry’s (CBI) Luzerne Learns to Work Program became part of Pennsylvania’s eligible EITC innovative programs.
How Does it Work?
Contributions to Greater Wilkes-Barre CBI through Pennsylvania’s EITC program allow companies to support the CBI’s vital, high-quality educational programs serving public school students in the Luzerne County region while also receiving a significantly smaller state tax bill. Through EITC, eligible Pennsylvania companies can receive tax credits equal to 75 percent of their contribution (up to $750,000 per taxable year), or up to 90 percent for two-year charitable commitments. For more information, please visit dced.pa.gov.
Your company’s charitable giving becomes a low-cost gift when you redirect your state business taxes to the participating EIO of your choice.
- A one-year commitment will earn you a state tax credit of 75% of your contribution. A business that agrees to provide the same amount for two consecutive tax years will earn a credit of 90%.
- The non-credited portion of the gift can be claimed as a charitable contribution for federal tax purposes.
- Businesses may request up to $750,000 in tax credits per year.
- Eligible entities include businesses subject to the following taxes:
- Corporate Net Income Tax
- Capital Stock/Foreign Franchise Tax
- Bank Shares Tax
- Title Insurance and Trust Company Shares Tax
- Insurance Premiums Tax
- Mutual Thrift Tax
- Gross Receipts Tax
- Tax under the Insurance Company Law of 1921
- Personal Income Tax
How Does My Company Apply?
All applicants are required to submit applications electronically through dced.pa.gov. The business application guide explains the process of applying. Businesses must apply specifically for EIO credits if they wish to support the Greater Wilkes-Barre CBI’s program.
New businesses may apply beginning July 1. Applications are approved on a first-come, first-served basis by date submitted.
The Department of Community and Economic Development will send an approval letter to businesses awarded educational improvement tax credits. The business then has 60 days to send its philanthropic contribution to the Greater Wilkes-Barre Chamber of Business & Industry at PO Box 759, Wilkes-Barre, PA. The Greater Wilkes-Barre CBI’s will issue a gift acknowledgment which the business must send to the Department of Community and Economic Development within 90 days of the original approval letter. After sharing this written acknowledgment with the department, the business will receive the amount of tax credits outlined in the original approval letter.