Champions for Children Receive a 70% Missouri Tax Credit
Missouri just made it easier and more impactful to support children in your community. Thanks to recent changes to the Missouri Champion for Children Tax Credit, your verified contribution to a qualified organization like Children’s Haven can now earn you a 70% state tax credit—a meaningful incentive for doing good close to home.
- The 70% Missouri tax credit is available for verified donations to Children’s Haven and other qualifying organizations.
- Credits can total up to $50,000 per taxpayer, per year.
- A new $2.5 million statewide cap (up from $1 million) increases the availability of credits.
- You’re protected if the cap is exceeded; and if your donation is denied, you won’t face penalties, interest, or tax additions.
Who Qualifies?
The tax credit is available to individuals, businesses, and corporations with Missouri income tax liability under Chapter 143, RSMo. A minimum contribution of $100 is required to qualify. (Note: Credits are nonrefundable, nontransferable, and cannot be sold, but they can be carried forward up to five years total.)
Why Children’s Haven?
Children’s Haven has been providing temporary shelter and nurturing care since 2003 to Joplin area children, ages birth through seventeen, when their families face a crisis. Crises may include, but are not limited to, homelessness, parent or sibling hospitalization, fear of child abuse or neglect, lack of food or utilities, parents seeking mental health or substance abuse treatment, or incarceration of a parent. Parents keep custody while their children stay in a secure, nurturing environment, at no cost to them.
If you’d like to learn more about Children’s Haven, check out this article.
TrueNorth does not provide tax or legal advice.
