Support BotsIQ through Pennsylvania’s Educational Improvement Tax Credit Program
Your company can divert its Pennsylvania Tax dollars to BotsIQ!
BotsIQ is an innovative educational program of the Pittsburgh Chapter National Tooling & Machining Foundation, a 501(c)(3) non-profit organization and approved PA EITC Educational Improvement Organization.
Who is able to contribute?
Businesses that are authorized to do business in Pennsylvania and subject to one or more of the following state taxes:
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921
What can my business do?
Tax credits paid to the Pittsburgh Chapter National Tooling & Machining Foundation (BotsIQ) can be applied against the tax liability of a business for the tax year in which the contribution was made.
Tax credits available are equal to 75 percent of a business’ contribution up to a maximum of $750,000 per taxable year. Tax credits can be increased to 90 percent of the contribution, if the business agrees to provide the same amount for two consecutive tax years.
When can I do this?
- May 15, 2020 – Business applicants who have fulfilled their 2-year commitment and wish to reapply in FY 19/20 to renew their 2-year commitment.
- May 15, 2020 – Businesses who are in the middle of their 2-year commitment.
- July 1, 2020 – All other businesses including initial applicants and those applicants wishing to submit an additional application on top of their previously submitted 2-year commitment.
How to Apply:
Pennsylvania businesses can begin applying for EITC credits through PA DCED’s electronic single application system.
The business application guide explains the process of applying. Be sure to select the Educational Improvement Tax Credit (EITC) program when registering. Tax credit applications will be processed on a first-come, first-served basis by day submitted. Applications will be approved until the amount of available tax credits is exhausted.
Once approved for EITC, select Pittsburgh Chapter National Tooling & Machining Foundation to make a contribution to BotsIQ.
Make checks payable to: Pittsburgh Chapter National Tooling & Machining Foundation
Memo: BotsIQ EITC Support
Mail to: 107 Freedom Court, Moon Township, PA 15108
More information about BotsIQ’s acceptance can be found in the letter below from the Pennsylvania Department of Community and Economic Development.
For more information on how to register your business with the PA EITC Program to receive tax credit benefits, please visit the Pennsylvania Department of Community and Economic Development.