Food Pantry Tax Credit

What is the Missouri Food Pantry Tax Credit

The Missouri Food Pantry Tax Credit is a state income tax credit that offers incentives for taxpayers who make monetary or food donations to qualifying hunger relief organizations in their local communities. Donors can receive a tax credit equal to 50% of their donations to eligible food pantries, homeless shelters, and soup kitchens located in Missouri.

The maximum credit is $2,500 per individual or $5,000 per business. The tax credit can be claimed by individuals, corporations, partnerships, and other entities with Missouri income tax liability. The goal is to boost donations to support hunger relief efforts across the state.

Who is eligible for the Food Pantry Tax Credit

To qualify for the tax credit, taxpayers must:

• Have Missouri income tax liability
• Make monetary or food donations before the end of the tax year to eligible hunger relief organizations in Missouri.
• Obtain proper receipts from the organizations to document donations.
• Complete Form MO-FPT when filing Missouri income tax returns.

How to Claim the MO Food Pantry Tax Credit

Claiming the credit involves:

1. Making eligible donations to qualified food pantries, shelters, soup kitchens in Missouri before December 31 and obtaining receipts.
2. Completing Form MO-FPT, listing donations, and attaching documentation when filing Missouri income tax return.
3. Claiming 50% of total donations as a tax credit (up to $2,500 individual or $5,000 business).
4. Submitting state tax return and Form MO-FPT by April 15 deadline.

Benefits of the Missouri Food Pantry Tax Credit

This tax credit program offers advantages such as:

• Encouraging donations and connecting taxpayers with local hunger relief organizations;
• Providing 50% tax credit incentive up to $2,500 per individual or $5,000 per business;
• Boosting resources for food pantries, shelters, and soup kitchens across Missouri;
• Helping communities by supporting services for the food insecure and homeless.

Recent Updates to the MO Food Pantry Tax Credit

Recent changes to the program include:

• Increasing the tax credit cap to $2,500 for individuals and $5,000 for businesses;
• Expanding eligible donations to include food as well as monetary contributions;
• Allowing unused credit to be carried forward up to 5 years.

The tax credit has been extended through 2025 to promote continued support of hunger relief efforts. The Missouri Department of Revenue provides resources and Form MO-FPT to help taxpayers claim the Food Pantry Tax Credit.