Registration Exemption EITC Position

Submitted by shannon_gottschalk on Thu, 01/10/2019 - 08:58

The staff of the Office of Corporation released the following position statement in regards to EITC and Special Purpose Entities (SPE). SPE's exemption from registration requirements include several criteria including:

-SPE is registered under Pennsylvania law;
-SPE was created for the sole purpose of making contributions to educational institutions;
-That 100% of the proceeds from the sale of the units is used as a donation

Please read the attached for more information.

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