Philadelphia businesses that want to participate in the Community Development Corporation (CDC) Tax Credit lottery should submit an application between 8 a.m. and 4:30 p.m. on January 9, 2019. Submit applications here:
Municipal Services Building
1401 John F. Kennedy Blvd.
Philadelphia, PA 19102
The CDC Tax Credit program rewards local businesses that contribute to economic development efforts in distressed parts of the City. The participating businesses will receive a tax credit against their Business Income and Receipts Tax (BIRT) obligation for a contribution to a qualifying CDC. A qualifying CDC is a 501c3 non-profit organization that engages in community and economic development activities, primarily within an identified geographic area in Philadelphia.
- Currently, the program has 4 available openings for a business seeking to partner with, and contribute $100,000 per year for 10 consecutive years to, a qualifying CDC.
How it works:
- On January 9, interested businesses must submit a completed application (original, and 2 copies). Applications that meet the program’s regulations are entered in a lottery.
- The Department of Revenue will not accept applications before January 9.
- If Revenue can’t fill the available openings from the lottery pool, applications received after 4:30 p.m. will be considered.
- Chosen businesses are required to complete a Contribution Agreement with the Philadelphia Department of Revenue.