Tax Credit Program-Kennett OAKS Senior Center

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August 30, 2018

Kennett OAKS Senior Center is raising money to renovate the building donated by VNA to move to the larger facility (by June 2019) and be able to offer more activities/serve more elderly clients.   This renovation project has qualified for Missouri tax credits to be offered to donors through the Neighborhood Assistance Tax Credit Program (NAP) administered by the Missouri Department of Economic Development (DED).

Seventy (70%) of the donated amount is eligible for a tax credit on Missouri taxes. Tax credits must be reported by the Kennett OAKS Senior Center in the year in which the donation is made, but tax credits can carry over by a donor into the next four succeeding taxable years if not claimed immediately in 2018. The following is specific eligibility information and you may also go to: https://ded.mo.gov/programs/community/NAP

ELIGIBLE DONORS

Businesses-individuals who operate a sole proprietorship, operate a farm, have rental property or have royalty income are also eligible, as well as a shareholder in an S-corporation, a partner in a Partnership or a member of a Limited Liability Corporation.

 

ELIGIBILITY CRITERIA

The Department of Economic Development (DED) will issue 70% tax credits to an eligible taxpayer who makes a qualified contribution to an approved Neighborhood Assistance Program (NAP) project.

 

PROGRAM BENEFITS/ELIGIBLE USES

This tax credit can be applied to:

• Ch. 143 – Income tax, excluding withholding tax

• Ch. 147 – Corporate franchise tax

• Ch. 148 –• Bank Tax • Insurance Premium Tax • Other Financial Institution Tax

• Ch. 153 – Express Companies Tax

Contact Laura Ford (573) 888-9852 Kennettoaks@clgw.net or Rhonda Bramlett (573) 335-3331 ext 112 Rhonda@agingmatters2u.com for more information and to let them know you are interested in making a donation. 


 
 
Kennett Chamber of Commerce
P.O. Box 61 • 1601 First Street • Kennett, MO 63857
573.888.5828 • Fax: 573.888.9802
Email: info@kennettmo.com
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