How does EITC work?
Tax credits are available on a first-come, first-served basis for contributions to educational improvement organizations such as The Chester Fund. Tax credits may be applied against the tax liability of a business for the tax year in which the contribution was made. A business may receive a tax credit equal to 75% of its contribution, up to a maximum of $750,000 per taxable year. A business that agrees to make a contribution to The Chester Fund for two consecutive years may receive a tax credit equal to 90% of its contribution. In effect, it costs businesses a dime to give a dollar.