PA Tax Credit Programs
Do you pay/owe personal Pennsylvania state income taxes for the 2024 Tax Year? If you answered "yes", did you know that you can redirect 90% of your personal state income taxes to Lancaster Catholic High School at no extra charge?!
By joining a Special Purpose Entity (SPE), you can redirect your personal state income taxes to benefit the students of Lancaster Catholic in the form of transformational tuition assistance funds! You have to pay/have already paid these taxes regardless...so, why not have a say in how your tax dollars are spent?
Here's the additional exciting news: The 2024 Pennsylvania state budget includes a $150 million increase in available SPE tax credits! These additional SPE tax credits are limited and available on a first-come, first-served basis. Now is the time to submit your SPE Joinder for the 2024 Tax Year!
Join us for an info session!
At LCHS on Wednesday, March 20th, 2024 at 5:30 P.M.
Brian Wassell (Parent ‘23) will lead the session, explain SPEs, and share how easy it is to participate!
How to Participate in an SPE
- Step #1: Determine your estimated Personal State Income Tax Liability for the 2024 and 2025 Tax Years (contact your accountant or tax preparer).
- If you estimate paying at least $3,500 per year, complete the CPSF Joinder Agreement - Spring 2024.
- If you estimate paying between $1,000 - $3,499 per year, complete the ACSI Joinder Agreement - Spring 2024.
- Step #2: Complete your corresponding 2024 SPE Joinder Agreement and submit it to either Joe Sahd '01 at LCHS or directly to Tami Clark at Central PA Scholarship Fund (if you owe $3,500 or more per year) or Tonia Harding at ACSI Children's Education Fund (if you owe between $1,000 - $3,499 per year).
- Contact info. is listed at the bottom of each Joinder Agreement.
- Step #3: Once approved, you submit your personal state income tax payment to CPSF / ACSI.
- Step #4: After receiving your payment, CPSF / ACSI sends you your K-1 Statement (your receipt of contribution for tax purposes).
- Step #5: When you file your taxes in the winter/spring, the state issues your refund check (if your taxes are withheld each pay) OR you only pay the remaining 10% of your personal state income tax liability (if you adjusted your quarterly tax amount).
For more information on SPEs, please click on the two links below:
Please contact Joe Sahd '01 in the Office of Advancement by calling (717) 509-0313 or emailing [email protected].
If you are having trouble downloading or viewing the above documents, please contact Joe Sahd, and he will gladly email them to you. [email protected]