13 CSR 10-3.020 - Pregnancy Resource Center Tax Credit
(1) A
qualified pregnancy resource center may apply for tax credits on behalf of
taxpayers who make contributions to the agency. The amount of tax credit issued
may be equivalent to up to fifty percent (50%) of the contribution to the
agency. Credits shall not be less than fifty dollars ($50) and cannot exceed
fifty thousand dollars ($50,000) to a taxpayer in a fiscal year. The total
amount of tax credits issued under this rule cannot exceed the amount stated in
section 135.630, RSMo in any fiscal
year.
(2) Definitions.
(A) "Director" means the director of the
Department of Social Services (DSS) or designee.
(B) "Qualified Pregnancy resource center,"
for the purpose of the Pregnancy Resource Center Tax Credit, means a pregnancy
resource center that meets the definition stated in section
135.630,
RSMo.
(3) The director
will annually develop and maintain a list of centers which are qualified for
the Pregnancy Resource Center Tax Credit. A copy of the pregnancy resource
center listing is posted on the DSS website and will be made available to
taxpayers upon request to the address referenced in paragraph
(4)(A)1.
(4) Annually, the director
will determine which facilities in Missouri may be classified as pregnancy
resource centers for purposes of the Pregnancy Resource Center Tax Credit. To
be a qualified center for purpose of the Pregnancy Resource Center Tax Credit,
a facility must meet the definition set forth in section
135.630, RSMo.
(A) In order for the director to make such
determinations, centers seeking eligibility must submit the following
information:
1. A complete and accurate
Pregnancy Resource Center Tax Credit Application for Agency Eligibility
Verification. Applications may be obtained at the Department of Social Services
website: www.dss.mo.gov or by
writing to-
Department of Social Services
Attn: Pregnancy Resource Center Tax Credit Program
PO Box 863
Jefferson City, MO 65102-0863;
2. A copy of certificate of
incorporation;
3. Verification of
Internal Revenue Service (IRS) tax-exempt status;
4. A brief program description including the
number and ages of women served annually and the capacity of the
facility;
5. All information should
be submitted to the address referenced in paragraph (4)(A)1.
(B) All pregnancy resource centers
must establish their eligibility for the Pregnancy Resource Center Tax Credit
on an annual basis by submitting an application for eligibility along with the
required documentation as stated in subsection (4)(A) of this rule no later
than June 1.
(C) Within forty-five
(45) days of receipt of the required information, the director will make a
determination of eligibility and notify the pregnancy resource center of the
determination in writing. Upon a determination of eligibility, a center will
automatically be added to the pregnancy resource center listing.
(D) Qualified centers must contact the
Department of Social Services within thirty (30) days of any changes in
business functions that could impact their qualifying status. The department
will review the agency's eligibility for participation in the tax credit
program and notify the agency of the determination in writing.
(5) The director shall apportion
the total available tax credits equally among all qualified pregnancy resource
centers and the apportionment will be effective the first day of each state
fiscal year (FY).
(A) The director shall
inform each qualified pregnancy resource center of its share of the apportioned
credits no later than thirty (30) days following July 1 of each fiscal
year.
(B) The director shall no
less than quarterly review the amount of apportioned tax credits being utilized
by each qualified pregnancy resource center. Upon request by the director,
pregnancy resource centers will provide in writing the amount their agency
plans to utilize in tax credits for the fiscal year. Pregnancy resource centers
seeking additional apportionment must submit a request to the director in
writing. If a pregnancy resource center fails to use all, or a portion of its
available credits throughout the fiscal year, the director may reapportion
these unused tax credits to maximize the amount of tax credits available to
taxpayers.
(C) Within thirty (30)
days of any reapportionment, the director shall notify those pregnancy resource
centers that would be affected by the reapportioned tax credit. The director
will consider comments the pregnancy resource centers submit concerning planned
future uses of the agency's tax credit allocation prior to the end of the
thirty- (30-) day period. The director's decision regarding reapportionment
shall be final.
(D) The cumulative
amount of tax credits that may be claimed by taxpayers contributing to the
centers shall not exceed the amount stated in section
135.630, RSMo.
(6) A qualified pregnancy resource
center shall report the receipt of any contribution it believes qualifies for
the tax credit on a form provided by the director. This form is known as the
Pregnancy Resource Center Tax Credit Application For Claiming Tax Credits.
(A) Pregnancy resource centers may request
the tax credit application at the Department of Social Services website
www.dss.mo.gov or by writing to the
address referenced in paragraph (4)(A)1.
(B) Pregnancy resource centers are permitted
to decline a contribution from a taxpayer.
(C) The tax credit application shall be
submitted to the director, by the pregnancy resource center within one (1)
calendar year of the receipt of the contribution. Tax credit applications
submitted more than one (1) year following the date of the contribution will be
void and the right to the tax credit will be forfeited.
(D) Verifying documentation must be attached
to the tax credit application when submitted by the Pregnancy Resource Center.
The type of documentation required will depend on the type of donation.
Required documentation includes the following:
1. Cash-legible receipt from the pregnancy
resource center, which indicates the name and address of the organization;
name, address, and telephone number of the contributor; amount of the cash
donation and the date the contribution was received; and a signature of a
representative of the pregnancy resource center receiving the
contribution;
2. Check-photocopy of
the canceled check, front and back-if not possible then copy of the original
check and a receipt from the pregnancy resource center including the same
information required of a cash donation as described in paragraph (6)(D)1. of
this rule;
3. Credit card-legible
transaction receipt with the name and address of the pregnancy resource center;
name, address, and telephone number of the contributor; amount and date the
contribution was received; and a signature of a representative of the pregnancy
resource center receiving the contribution. Receipts should have the credit
card account number blacked out;
4.
Money order or cashier's check-legible copy of the original document with the
name and address of the pregnancy resource center; name, address, and telephone
number of the contributor; amount of the cash donation and the date the
contribution was received; and a signature of a representative of the pregnancy
resource center receiving the contribution;
5. Regarding contributions of stocks and
bonds, the amount of the contribution is the fair market value of the item as
of the date of the donation. Information required when submitting applications
for tax credit shall include the source and date the stock was valued and how
the bond amount was determined;
6.
The value of a contribution of real estate shall be the fair market value of
the real estate within three (3) months of the date of the donation. The fair
market value is the lower of at least two (2) qualified independent appraisals
for commercial, vacant, or residential property that has been determined to
have a value of over fifty thousand dollars ($50,000). Commercial, vacant, or
residential property having a value of fifty thousand dollars ($50,000) or less
will require only one (1) appraisal. The appraisals will be conducted by two
(2) different licensed real estate appraisers; and
7. Contributions that include a benefit to
the donor-in addition to the documentation needed in paragraphs (6)(D)1.-6.,
the pregnancy resource center must provide written documentation of the type of
function or event from which the benefit was received, description of the
benefit received (if an auction item, identify the item received), gross amount
of the contribution, fair market value of the benefit, and how the fair market
value of the benefit was determined.
(7) The director will verify with the
Department of Revenue any outstanding balances due from the taxpayer's prior
year's state tax liability. If a balance due is outstanding, the amount of tax
credit issued under this rule will be reduced by that amount. The director
shall be subject to the confidentiality and penalty provisions of section
32.057, RSMo, relating to the
disclosure of tax information.
(8)
Within forty-five (45) days of receipt of the tax credit application, the
director will provide written notification of its decision to approve the
application to the following parties:
(A)
Taxpayer (notification to the taxpayer will include the amount of tax credit
that was approved); and
(B)
Missouri Department of Revenue.
Notes
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