MO State Tax Credits

What can I claim?

Children’s Home Society (CHS) is pleased to announce that the State of Missouri has awarded YOP tax credits to help fund Post Adoption & Counseling Programs (PACTS).

PACTS is part of CHS’s comprehensive Education and Counseling Services which provides specialized care for adopted children who:

• Struggle with emotional and behavioral challenges
• Have a history of abuse or neglect
• Experience delays due to insufficient care

To receive Youth Opportunities Program Tax Credits for your donation, please follow these steps:

1. Download a YOP form
2. Fill it out, have it notarized, and mail it back to CHS with donation paperwork
3. Gather and complete donation paperwork
   • For check donations, a copy of your cancelled check
   • For credit card donations, a copy of your PayPal Transaction AND a copy of your credit card statement containing the donation, with account number and all other charges blacked out (make sure your name is legible on the statement)
   • For donations of stock, a letter of portfolio stating the donor’s name, the organization’s name, the number of shares donated, the type of stock and the date of transfer
4. Once we receive your notarized application and accompanying materials, we will send it on to the Missouri Department of Economic Development, Youth Opportunities Program. YOP will process the application and issue you a ‘Certification of Eligibility Form,’ authorizing you to claim the tax credits.

Frequently Asked Questions about Missouri’s YOP Tax Credit Program

Eligible Contributions:

• Cash
• Publicly-traded stocks and bonds (starting January 1, 2001)
• Materials, equipment or property specifically used for the YOP project, and
• Wages paid to youth in an approved internship/apprenticeship/employment project

Ineligible Contributions:

• Labor and professional services
• Contributions to pay for fund raising activities, and
• Used clothing

Which taxes can YOP tax credits be used to offset?{ Read }

The tax credits can be used to offset state income tax due pursuant to:

• RSMo chapter 143- individual state income tax, excluding withholding tax imposed by sections 143.191 to 143.265;
• RSMo chapter 147-corporate franchise tax;
• RSMo chapter 148-gross premium receipts tax of insurance companies and tax of banks and other financial institutions; or
• RSMo chapter 153-gross receipts tax of express companies.

How long does a donor have to submit the tax credit application into YOP before the donor must forfeit the tax credits?{ Read }

Twelve months from the date of contribution (date on the check).

What is the turnaround time for processing tax credit applications?{ Read }

Approximately 2 weeks. However, depending on the volume received from December 1-April 15, the turnaround time may be slower.

How can the donor obtain the forms needed to claim the tax results?{ Read }

Form CDTC-770 Tax Credit Application can be obtained from the approved organization to which the donor made the contribution. To obtain the MO-TC form contact the Development Department at 314.968.2350, x222 or send an e-mail to development@chsmo.org

Is there a maximum amount a donor can contribute for YOP tax credits?{ Read }

Yes. A donor may receive no more than $200,000 in YOP tax credits in one tax year for contributions made to one or more YOP approved projects unless the projects are located in blighted or distressed areas of the state.

If the donor does not have enough tax liability in the tax year the contribution is made, can the credits be used on subsequent tax returns?{ Read }

Yes. The contributor has the tax year the contribution was given and five succeeding tax periods in which to use the credits.

Are the tax credits sellable or transferable?{ Read }

No.