NAP Tax Credits
If you have business income in Missouri, you may receive a reduction in your Missouri state taxes equal to 50 percent of your donation through the Missouri Neighborhood Assistance Program.
1. Who is eligible to receive the NAP tax credits?
The Missouri Neighborhood Assistance Act makes this credit available to any person, firm or corporation in business in the State of Missouri. Besides corporations, this includes financial institutions, insurance companies, express companies, partnerships and their individual partners, small business corporations (S-corporations) and their individual shareholders, limited liability companies and their individual members, and individuals who either own and operate their own business, own and operate a farm in Missouri, or receive income from royalties or rental property in Missouri.
2. What is the eligibility time frame?
From now through December 31, 2019.
3. When may the credits be claimed?
The credit may first be claimed on taxes due for the year the contribution was made, and extends for five additional tax years. The tax credit is only to be claimed on taxes due for that period, and any credit not claimed in that time will automatically be forfeited. The credit may not be used to offset taxes due for periods prior to the year of contribution.
4. May credits be transferred or sold?
No, NAP tax credits are not transferable or sellable.
5. How are credits distributed?
NAP tax credits are limited to $250,000 and available through December 31, 2019. Therefore, they will be distributed on a first-come, first-serve basis. Through this program, eligible donors who make a contribution to CCVI can receive 50% of their gift back in the form of a tax credit.
6. How do I find out more information?
Donors may email or call Sally Cook (firstname.lastname@example.org or 816-841-2284, ext. 2018). You can also find out more information on the Missouri Department of Economic Development's (DED) website. Or click here to download the application.
7. When must the tax credit application be submitted?
Current NAP rules require the tax credit application be submitted to DED within one year of the date or the right to the credit is forfeited.