Missouri HB2216 establishes a tax credit for contributions to permanent endowment funds held by qualified community foundations.
Missouri HB2216, known as the "Missouri Gives Tax Credit Act," authorizes tax credits for contributions to permanent endowment funds held by qualified community foundations. Each taxpayer can claim a tax credit equal to 25% of their contribution, up to $100,000 per year. Contributions to a specific foundation are capped at $3 million annually, and the total tax credits available per year are limited to $5 million. The tax credits are non-refundable, non-transferable, and cannot be carried forward to subsequent tax years.
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