Individuals must be employed by or own a For Profit Company or have a tax filing status of Married Filing Jointly with a spouse who is employed by or owns a For Profit Company. A new letter ruling also allows individuals employed by a non-profit participate if they own stock in business that operates in the state Pennsylvania.
Article XX-B of the Public-School Code 1949 defines "business firm" as:
And entity authorized to do business in this Commonwealth and subject to taxes imposed under article III, IV, VI, VII, VIII, IX, XV, or XX of the Tax Reform Code of 1971 or a tax under Article XVI of the Insurance Company Law of 1921. The term includes a pass-through entity, including a pass-through entity, the purpose of which is the making of contributions under this article and whose shareholders, partners or members are composed of owners or employees of other business firms.
Based on this definition, a non-profit individual and/or a retired individual that owns publicly traded stock qualifies as an owner of employee of a business firm. Additionally, pass-through entities and "C" corporations can be owners of other business firms and as such, can be members of special purpose entities.
Business Participation for non-C-corporation
This applies to owners of:
S Corporation
General Partnerships
Limited Partnerships
Limited Liability Companies (LLC)
These owners will be participating in the program as individuals with their social security number. The business may write the check in behalf of the owner and claim the donation as a deduction on the Federal side and the owners will claim 90% credit on the Pennsylvania side.
If the business is going to be sending the check on behalf of the owner, please place the owners name or names in the memo line.