Food Pantry Tax Credit (FPT)
NOTE: Contributions to an eligible food pantry must be made by August 28, 2011
Under Section 135.647, RSMo, the food pantry tax credit sunsets on August 28, 2011. All food pantry tax credit claimants must make contributions to an eligible food pantry on or before August 28, 2011.
All food pantry tax credit claimants must submit claims by September 1, 2012. In the event the credit is carried forward to the claimant's 2012, 2013, or 2014 tax return, claimants may submit their claims until the due date or the extended due date of the return.
- Provides a tax credit for taxpayers who make donations of cash or food supplies to a qualified food pantry.
Eligible Food Pantries and Applicants
- A food pantry is defined as an organization that is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended; and distributes emergency food supplies to low-income people in the area the taxpayer claiming the tax credit resides.
- 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 $2,500 per taxpayer per year. The taxpayer may take a credit of 50% of their donations.
How to Claim the Food Pantry Credit
- To claim the Food Pantry Credit, the claimant must attach the following to their Missouri tax return:
- A completed Miscellaneous Income Tax Credits form (MO-TC).
- A completed Food Pantry Tax Credit form (MO-FPT) or documentation from the food pantry which specifies the name of the food pantry, the dates and amounts of donations, and the name of the person making the donations. A separate MO-FPT or letter documenting the donations must be submitted for each food pantry to which donations were made.
Eligible Use of Tax Credit
- The amount of the credit claimed may not exceed the amount of the claimant’s tax liability. If the credit exceeds the claimant’s tax liability, the excess amount may be carried forward three subsequent years.
- If the claimant reports donations used to calculate the Food Pantry Tax Credit as a charitable contribution on their federal Schedule A, the donation amount must be reported as a modification (addition) on Missouri Individual Income Tax Adjustments form (MO-A).
- Anyone employing persons not authorized to work in the United States under federal law is not eligible for the credit.
- This Food Pantry Tax Credit may be applied to individual income tax, corporation income tax, and fiduciary tax, or any other tax incurred under the provisions of Chapter 143, RSMo, excluding state withholding tax.
- The Food Pantry Tax Credit is nonrefundable and is nontransferable.
Due Date and Funding Limits
- Returns claiming the Food Pantry Tax Credit must be filed by April 15th of each fiscal year.
- The total amount available for the Food Pantry Tax Credit is $2,000,000 in any one fiscal year. A fiscal year begins on July 1st and ends on June 30th.
- All claims will be held until after April 15th to determine if the total claimed exceeds $2,000,000. If claims exceed $2,000,000, the department will apportion credits in an equal ratio among all valid returns filed.
- If the Food Pantry Tax Credit is reduced because of apportionment, an amended return may be filed on or after July 1st to be considered for the following fiscal year beginning July 1, or the credit may be carried forward to the next year's tax return. Amended returns may be filed until the credit is exhausted or the returns go out of statute. Generally, a return goes out of statute three years from the due date of that year’s return.
- Form MO-TC, Miscellaneous Tax Credits
- MO-A, Missouri Individual Income Tax Adjustments
- MO-FPT, Food Pantry Tax Credit
Contact Missouri Department of Revenue, Taxation Division:
- E-mail: firstname.lastname@example.org
- Telephone: 573-526-8733 (for individual and fiduciary tax) 573-751-4541 (for corporation income tax)