Pennsylvania's Education Improvement Tax Credit program (EITC) provides lucrative tax credits to eligible businesses who contribute to approved educational programs like Sounds of Learning. Businesses can receive EITC credits of up to 90% of their contribution amount towards their Pennsylvania business taxes.

Your business may be eligible if it is authorized to do businesses in the Commonwealth of Pennsylvania and is subject to one or more of the following taxes:

• Corporate Net Income Tax 
• Capital Stock Franchise Tax 
• Bank and Trust Company Shares Tax 
• Title Insurance Companies Shares Tax
• Insurance Premiums Tax
• Mutual Thrift Institution Tax
• Personal Income Tax of S corporation shareholders or Partnership partners

Businesses may receive a tax credit of 75% of their contribution to Sounds of Learning for a one-year commitment, or 90% of their contribution of the same amount each year for a two-year commitment.

Applications for businesses are accepted beginning July 1 of each year and credits are awarded on a first come, first served basis. To determine your eligibility, you and your tax professional can access a copy of the guidelines and application at www.NewPA.com/eitc.

Opera Philadelphia partners with Friends of Education to simplify the EITC process for individual and small businesses interested in participating in the program. Through Friends of Education's special purpose entities (SPEs), donors can easily redirect a portion of their tax dollars to Opera Philadelphia's education programming.