Twenty Pennsylvania Nonprofit Organizations Share $143,000 in Educational Grants From Verizon Through State Tax Credit Program

Under the EITC plan, Pennsylvania businesses that pay any one of six taxes, including the corporate net income tax, may submit an application to the state Department of Community and Economic Development to provide grants. The businesses are then eligible for tax credits ranging from 75 percent to 90 percent of a maximum contribution of $300,000 per year. The credit is applied against a business's tax liability for the tax year in which the contribution was made. Since Verizon renewed its commitment to contribute for two consecutive tax years, it qualified for the 90 percent tax credit.