EITC for individuals

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Individuals can participate through a Special Purpose Entity (SPE). Pennsylvania's definition of a "Business” includes an SPE thereby enabling the participation of individuals in this program. 

To become a member of an SPE at the Pennsylvania Education Partnership LLC, individuals must:

• Make a two-year commitment to join the PEP SPE; and
• Submit a signed PEP Operating Agreement
  • Upon notification of tax credit approval from the Pennsylvania Department of Economic and Community Development, the PEP will send you an Operating Agreement;
  • The Operating Agreement needs to be signed and returned to the PEP along with your first-year contribution; and 
  • In your second year, your contribution must be submitted within 60 days of the Letter of Approval from the Pennsylvania DCED. The PEP will inform you of this date. 

There is a $6,000 minimum contribution and a two-year required commitment for participation.

Pennsylvania has no maximum for individual participation through one or more of the Special Purpose Entities (SPEs). You can become a member of an SPE through PEP.

You need to select an amount that generates a 90% tax credit amount without exceeding your Pennsylvania tax liability. The amount is a guess for most people who don't know exactly what their current year taxes will be. Please consult your tax professional to help you choose the right amount.