Missouri Tax Credit
As an incentive to encourage people to make donations to food
pantries, the State of Missouri passed a bill in 2013 that gives a tax credit -- not just a deduction -- for contributions to a
food pantry in the state of Missouri, such as the two pantries operated by Bishop Sullivan Center.
Any taxpayer (individual, corporation or trust) that makes a
donation of cash or food supplies to a food pantry may receive a credit
of up to $1,000 per taxpayer per year. The taxpayer may take a credit
of 50% of their donations. The total amount available for the Food
Pantry Tax Credit is $1,250,000 in any one fiscal year. Donations made anytime in 2013 qualify.
All claims will be held until after April 15 to determine if the
total claimed exceeds $1,250,000. If claims exceed $1,250,000, the
department will apportion credits in an equal ratio among all valid
Bishop Sullivan Center will provide all necessary filing paperwork in January of 2014.