Pennsylvania Opportunity Scholarship Credit

by Tom Guappone 18. September 2012 12:02
The Opportunity Scholarship Credit is available to business entities that make contributions to non profit organizations that provide scholarships to eligible students to pay tuition and necessary school related fees to attend participating non-public or a participating public school in a school district that is not the recipient’s school district.  Eligible students who reside within the attendance boundary of a low-achieving school can apply for a scholarship to attend a participating public or non-public school. The Pennsylvania Department of Education has released a list of the low achieving schools as required for the opportunity scholarship credit that is available against corporate income, capital stock, franchise and other entity taxes. To obtain more details and a list of schools, please visit the PA website or contact a Urish Popeck tax specialist and visit our tax services page.
Categories: Tax

Tax Credit For Plug-In Electric Car

by Steven Sodini 30. June 2011 16:27
Interested in a plug-in electric car?? Uncle Sam wants to help you buy one. The income tax credit for a “new qualified plug-in electric drive motor vehicle” was enacted as IRC § 30D by the Emergency Economic Stabilization Act of 2008 (PL 110-343) and modified by the American Recovery and Reinvestment Act of 2009 (PL 111-5). For each qualifying vehicle, a credit is allowed of $2,500 plus, for vehicles with at least five kilowatt hours (kwh) of rechargeable battery power, $417, plus $417 for each additional kwh above five, up to an additional credit of $5,000. [More]
Categories: Tax