Pennsylvania businesses can participate either in the EITC or the OSTC Tax Credit Program and Individuals can also take advantage of the Tax Credit Programs by becoming part of a Special Purpose Entity.
• Steps for Businesses
1. Choose program, EITC, PRE-K, or OSTC
2. Complete online application
EITC Click Here
OSTC Click Here
(If you would like assistance completing your application please contact Catherine Long at email@example.com.)
3. Submit form
4. Application approval by DCED
5. Contribute to CTF
6. Forward receipt to DCED
7. Receive tax credit
• Steps for Individuals
1. Business owners or employees of a business can join a special purpose entity (selected special purpose entity is a business.)
2. SPE applies to Pennsylvania for tax credits
3. Tax credits (90%) passthrough to individual members of the special purpose entity toward personal tax liability (K-1).