Scout | dced/59: Opportunity Scholarship Tax Credit (OSTC)

grant dced/59

Opportunity Scholarship Tax Credit (OSTC)

The program provides tax credits to eligible businesses contributing to an Opportunity Scholarship Organization. Business contributions are then used by Opportunity Scholarship Organizations to provide tuition assistance in the form of scholarships to eligible students residing within the bounda…

Funding Source

Agency: Pennsylvania Community & Economic Development

Eligibility

Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made. The tax credits awarded to businesses will be equal to 75 percent of their contribution amount, which can be increased to 90 percent upon the business committing for two years. The total may not exceed $750,000 per taxable year. Eligible for Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes: Personal Income Tax Capital Stock/Foreign Franchise Tax Corporate Net Income Tax Bank Shares Tax Title Insurance & Trust Company Shares Tax Insurance Premium Tax (excluding unauthorized, domestic/foreign marine) Mutual Thrift Tax Malt Beverage Tax Surplus Lines Tax

Dates

Application Opens: January 2, 2024

Application Deadline: December 31, 2035

Supporting links

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