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
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).