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Virginia's Education Improvement Scholarships Tax Credits program

Virginia’s Education Improvement Scholarships Tax Credit program allows you to donate to scholarships for low-income students at Saint Benedict Catholic School and receive a 65% Tax Credit.

Individuals can use the Tax Credit against their Virginia personal income tax liability.

Businesses can claim the Education Improvement Scholarships Tax Credit against:

  • Virginia Corporate Income Taxes

  • Virginia Bank Franchise Tax

  • Virginia Insurance Premiums License Tax

  • Virginia Public Service Corporations Tax

  • Personal Income Taxes via pass-through entities such as S-Corporations, LLCs, and Partnerships.

In addition to the 65% Tax Credit, individuals and businesses may also receive a deduction for a charitable contribution.

Consult your tax advisor to determine your specific tax savings.

EISTC Fact Sheet

EISTC Brochure

EISTC Fillable Preauthorization Request Form

 

For more detailed information visit the McMahon Parater Foundation website or contact Gretchen Ridgely, Director of Admissions & Development, at development@saintbenedictschool.org or 804-254-8850.

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