NAP Tax Credits
Neighborhood Assistance Program (NAP) Tax Credits Available through the State of Missouri Department of Economic Development
Do you have business income in Missouri? If so, you can receive a reduction in your Missouri state taxes equal to 50% of eligible charitable contributions through the Missouri Neighborhood Assistance (NAP) Tax Credit Program. The NAP allows Missouri taxpayers to determine where their state tax dollars will be utilized by donating to charitable organizations. NAP Tax Credits are an incentive that helps increase your generosity to LOGOS School. At a minimum you get 50 cents back from every dollar you donate when filing Missouri State taxes. First, as with any charitable donation, you can take the federal and state charitable tax deductions. As a bonus, you can claim 50% of the donation as a credit on your Missouri State taxes. So, with a NAP Tax Credit, your gift directly benefits LOGOS students and their families while vastly reducing your federal and state tax liability. LOGOS has been allocated a limited number of credits; please secure your credits today to ensure their availability.
LOGOS School has set the minimum contribution to receive tax credits at $10,000. With a limited amount of tax credits to be claimed, we anticipate that they will go fast.
- Farm Operation
- Financial Institution
- Individual partner in a Partnership or shareholder
in an S-Corp
- Individual reporting income from rental property
- Insurance Company
- Limited Liability Corporation or Partnership
- Partnership ̶ Sole Proprietorship
- Small Business Corporation (S-Corp)
- Exempt Charitable Organizations
HOW DO TAX CREDITS WORK FOR YOU AND HELP LOGOS SCHOOL?
*IRS requires that the donation be reduced by the tax credit received.
NAP Tax Credits are not saleable, transferable, or returnable. A gift of appreciated securities would provide additional tax benefits related to avoiding capital gains. The above calculations assume a 35% tax bracket. Additional taxes may occur; the examples above are merely illustrations and do not constitute tax advice. Please contact your tax advisor to determine how the NAP Tax Credits apply to you.