PA EMPLOYERS COULD GET TAX CREDIT FROM CONTIBUTION TO EMPLOYEE’S TUITION SAVINGS ACCOUNT

Pennsylvania employers could soon get a tax credit if they make contributions to their employees’ tuition savings account. A bill that passed the state House last week would allow employers to contribute up to 500-dollars to an employee’s tuition savings account annually. The resulting tax credit would be equal to 25 percent of the employer’s total contributions. Sponsors say the legislation would help reduce the financial burden on students.