NAP TAX CREDITS
Are you a business owner who pays Missouri state income taxes? Would you like to pay less in state taxes? United Way of Greater St. Louis has Neighborhood Assistance Program (NAP) tax credits available to eligible donors for gifts of $5,000 or more. Pay less in taxes while helping people through the United Way of Greater St. Louis Opioid Response Strategy program. Everybody wins. Here’s how it might work for a gift of $10,000:
Donation – $10,000
Missouri Tax Credit (50%) – ($5,000)
Missouri Income Tax Deduction (6% of Net Donation*) – ($300)
Federal Income Tax Deduction (37% of Net Donation*) – ($1,850)
Total Out-of-Pocket Cost – $2,850
* 37% rate assumed for individual with business income and assuming federal benefit based on contribution net of Missouri tax credit. United Way of Greater St. Louis does not provide tax advice. Consult your tax advisor to determine your potential tax liabilities.
What is the Opioid Response Strategy program?
United Way of Greater St. Louis is partnering with primary care providers and other agencies to help uninsured postpartum mothers and their infants from the St. Louis region with Opioid Use Disorder. The program provides support for Medication Assisted Treatment and other needed wrap-around services helping to assure long-term positive outcomes for mother and child.
Who is eligible?
Any business or individual with Missouri business income.
What gifts are eligible?
Gifts of cash (Check, credit card, or EFT), stocks or bonds designated to our Opioid Response Program.
How do I make a gift and receive the tax credit?
Contact Carri Brooks at 314-539-4056 or firstname.lastname@example.org to arrange payment. You will then receive an acknowledgement letter and a short tax credit form to fill out and return to United Way of Greater St. Louis. Ultimately you will receive a certification letter directly from the State of Missouri indicating your tax credits have been approved.
Donors receive a tax credit equaling 50% of the contribution. The tax credits may be applied against the following Missouri state tax liabilities: corporate state income tax, excluding withholding tax imposed by sections 143.191 to 143.265 of RSMo, corporate franchise tax, gross premium receipts tax of insurance companies and tax of banks and other financial institutions, and gross receipts tax of express companies. NAP tax credits can be carried forward for five years and are not transferable. Remember, United Way of Greater St. Louis does not provide tax advice. Please consult a tax professional before making a donation.