Missouri Tax Credits Available
Do you want to help a great cause AND save money on your Missouri State taxes?
Rebuilding Together St. Louis has been awarded Neighborhood Assistance Tax Credits, which allow qualified donors to direct some of their tax dollars to Rebuilding Together St. Louis in the form of a donation.
A qualified donor making a $10,000 donation to Rebuilding Together St. Louis could receive a tax credit of $5,000 (50% of the gift value) which can be applied to their Missouri State tax liability. Plus, depending on the donor's Federal income tax bracket and their individual financial situation, donors who itemize deductions may also receive federal tax benefits. All donors who are considering NAP tax credits are encouraged to consult with their personal tax adivsor or accountant, as RTSTL does not offer financial or tax advice.
NAP tax credits are available to the following businesses and individuals who pay taxes in the State of Missouri:
- Corporation
- Farm Operation
- Financial Institution
- Individual Partner in a Partnership or Shareholder in an S-Corp
- Individual Reporting Income from Rental Property or Royalties
- Insurance Company
- Limited Liability Corporation or Partnership
- Partnership
- Sole Proprietorship
- Small Business Corporation (S-Corp)
Cash donations of $1,000 or more to Rebuidling Together St. Louis from qualified donors may be eligible for a 50% tax credit. Gifts of publicly-traded stock and some in-kind donations may also be eligible.
Upon receipt of a gift of $1,000 or more, the RTSTL team will reach out to donors to see if they are interested in applying for tax credits, and we will provide the application form and instructions to those who are interested. Forms must be notarized and include documetation of the donation (such as a cancelled check, credit card statement or stock transfer confirmation) and donor eligibility. Forms are returned to RTSTL and we then forward it to the state for processing.
For more details, you can check out the actual application form here .