Did you know The State of Pennsylvania says just about any business can send their tax liability check to MMI instead of to the Department of Revenue? This is an annual opportunity to put your business’ tax dollars to work in your community the way you would like.
Pennsylvania is one of a few states in the nation which offers the Educational Improvement Tax Credit Program (EITC) and the Opportunity Scholarship Program (OSTC)! The hardest part is convincing you how simple both programs really are.
Here's how it works...
The business you own or work for can send up to 90% of its annual PA tax debt to MMI for scholarships and only pay the State 10%. And the best part? A portion of the gift can be claimed on the business's federal tax return as a charitable gift too! Since 2005, MMI students have received nearly $3.8 million in scholarship support thanks to the contributions of many area companies through the Educational Improvement (EITC) and Opportunity Scholarship (OSTC) Tax Credit programs.
There's no long and detailed application process. Your business completes a simple online application. Don't own the company? No problem. Take the info to whoever handles such things and tell them about it! There's no research to be done, no calls to make, no hassle to go through. It is a win-win!
Want to learn more about EITC and OSTC?
Go straight to the State's website at www.newpa.com to take a look at the PA State Guidelines...the program is continuing to grow.
EITC and OSTC applications for 2020-21 have been processed and the majority of credits are exhausted for this year. New applications will begin to be processed on July 1, 2021 for 2021-2022 but you must apply on that day since credits are usually exhausted on day one! The time to act is now to make sure you are ready to apply on July 1!
Your support of MMI through the EITC or OSTC programs will help MMI’s efforts to make our educational experience available to the most capable students regardless of their financial circumstances.