Job Point is pleased to announce that we have been awarded Youth Opportunity Program (YOP) tax credits by the Missouri Department of Economic Development to support our programs serving youth as they pursue their high school equivalency in our community. With a YOP tax credit, you can reduce your Missouri state income tax while supporting Job Point’s vital youth programming!
Things to remember:
- Tax credits are not deductions. Deductions reduce your income before the taxes you owe are assessed. A tax credit directly reduces the amount of tax you owe.
- Donations by individuals and businesses are eligible for YOP tax credits.
- Eligible donations may be applied when you file your tax return.
- Any remaining credit balance can be carried forward during the next five years.
PROGRAM BENEFITS/ELIGIBLE USES
This tax credit can be applied to:
• Ch. 143 – Income tax, excluding withholding tax
• Ch. 147 – Corporate franchise tax
• Ch. 148 –
o Bank Tax
o Insurance Premium Tax
o Other Financial Institution Tax
• Ch. 153 – Express Companies Tax
This credit’s special attributes:
• Carry forward 5 years
Eligible Donations:
- Monetary (cash, checks, credit)
- Real Property (building or land where the project will take place)
- Publicly traded stocks and bonds
- In-kind donations of materials, supplies, equipment (30% credit only)
When making your gift, please indicate your interest in tax credits and we’ll follow up with you, providing instructions on how to file the tax credit application and support with submission.
Please contact us at info@jobpoint.org or by calling (573) 474-8560 for more information.
