Missouri taxpayers, including individuals and businesses, who donate to a pregnancy resource center (PRC) like PCC are not only helping provide hope and help to women and men facing unplanned pregnancy.
Under certain circumstances, financial gifts and event sponsorships may also be eligible for a state tax credit of 70% of the donation.
How the Process Works:
As donations are made and tax credit applications completed, PCC mails the applications with all supporting documentation to the Department of Social Services (DSS). DSS then processes all applications and sends the tax credit certificates, which you will need to file your taxes, directly to the taxpayer.
At PCC, we submit tax credit applications within 3-5 business days of receiving them. We process those applications on a first-come, first-served basis.
In order for taxpayers to receive certificates of tax credits in time to be claimed on 2021 income tax returns, PCC must receive completed tax credit applications by January 30, 2022 for qualifying donations made in the 2021 tax year.
For specific information about PCC’s tax credits, please email Vania Hager at firstname.lastname@example.org or call 417-877-0800.
What are the donation and tax credit requirements?
- There is a $100 minimum contribution, of which 70% is tax-credit eligible for donations made after January 1, 2021. Donations made in 2020 are eligible for a 50% tax credit. Donors can claim up to a $50,000 credit per tax year.
- Donations can be made by cash, check, credit card, stocks, bonds and other marketable securities as well as real estate. Note: Donations that include a benefit to the donor will be reduced by that amount, i.e. a meal at a fundraising banquet.
- The amount of the claimed tax credit may not exceed the amount of the taxpayer’s state income tax liability for the year the credit is being claimed.
- Any tax credit that cannot be claimed in the tax year associated with the contribution may be carried forward and used against a taxpayer’s state tax liability the next succeeding tax year.
What are the donor’s responsibilities?
- Make a qualifying donation.
- Submit a complete and accurate original (no photocopies, faxes or emailed copies) tax credit application to PCC within 12 months of the donation date. If filing a joint tax return, both names, social security numbers and signatures must be included on the application.
What are PCC’s responsibilities?
- Respond to all requests from DSS for eligibility verification and analysis of tax credit amounts used throughout the fiscal year.
- Complete our portion of all tax credit applications, including the total value of all donations during the specific time period, the tax credit amount for that same period and the Executive Director’s signature.
- Compile supporting documentation and submit with tax credit applications to DSS in a timely manner. We may request additional supporting documentation from the taxpayer(s) for certain types of donations, such as stocks or bonds.
- Process tax credit applications on a first-come, first-served basis. We are not able to offer any exceptions to this DSS rule.
Do all benevolent tax credits work the same way?
No, there are many different benevolent tax credits in Missouri, and each one is administered under different guidelines.
For more detailed information about Missouri PRC tax credits, please visit: https://dss.mo.gov/dfas/taxcredit/pregnancy.htm