Tax Credit Program for Businesses PDF Print E-mail

Businesses can donate to MMI,
and get a tax credit at the same time!
(Not a business owner? Help MMI by spreading the word!)

What is this program?

Encouraging investment in education, the Commonwealth of Pennsylvania has created the EITC program, which allows businesses to earn valuable tax credits by donating to approved educational institutions such as MMI Preparatory School.

Businesses are given tax credits amounting to 75% of their donation, up to $200,000 per year, or 90% if they made a two-year commitment.

The tax credits are highly competitive and awarded on a first-come, first-served basis, so interested businesses need to be prepared to apply for consideration July 1 when the next round of funding will be allocated by the Commonwealth.

 

 How much can a business save?

Businesses are able to obtain up to $400,000 in tax credits over a two-year period.

Do I have to donate large amounts?
No. Any donation is eligible for the 90% tax credit.

 

What will my donation be used for?

Donations through this program are specifically designated to fund student scholarships for eligible families. In fact, more than 68 percent of students attending MMI receive some form of financial aid. Donations from alumni and the business community allow us to make a college preparatory education available to more students.

 

I don’t own a business. How can I help?

Individual donations to MMI are always accepted. Just contact MMI to discuss the many ways you can help. You can also help by telling any business owners who you may know about this tax credit program.

What can the tax credits be used for?
• Corporate Net Income Tax
• Capital Stock Franchise Tax
• Bank and Trust Company Shares Tax
• Title Insurance Company Shares Tax
• Insurance Premiums Tax
• Mutual Thrift Institutions Tax

 

How do I get more information?

For more information, call Jim Bebla, MMI’s Director of Development and Alumni Relations, at 570-636-1108 or email This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .