Tax Credits

Champion for Children Tax Credit (Section 135.341)

Effective January 1, 2025, this legislation increased the amount of tax credit a taxpayer can receive from 50% of a qualified contribution to 70% of a qualified contribution, but also limited the total amount of tax credits a taxpayer can receive to $50,000 annually. Starting July 1, 2025, the annual cap on the tax credit increased from $1.5 million to $2.5 million annually.

Youth Opportunities Tax Credit (Section 135.460)

Effective August 28, 2025, this legislation will increase the amount of tax credit a taxpayer can receive from 50% of a qualified contribution to 70% of a qualified contribution.

Diaper Bank Tax Credit (Section 135.621)

Legislative changes extended the sunset clause on the diaper bank tax credit to August 28, 2031. This legislation also expands the type of diaper banks that can participate in the program.

Maternity Home Tax Credit (Section 135.600)

Effective August 28, 2025, this legislation limits the total amount of tax credits a taxpayer can receive to $100,000 annually.

Homestead Disaster Tax Credit (Section 135.445)

Effective January 1, 2025, an individual taxpayer in a presidential disaster declaration area that incurred an insurance deductible during 2025 could be eligible to receive a tax credit up to $5,000. The credit is not refundable but can be carried forward up to twenty-nine years. The amount allowed to be redeemed in the first year is $90 million, with a limit of $45 million thereafter for all taxpayers claiming the credit.

Missouri Development Finance Board (MDFB) Infrastructure Tax Credit (Section 100.240)

This legislation expands the current Infrastructure tax credit program to allow a taxpayer who contributes to the infrastructure development fund to receive a tax credit equal to 50% of the amount of the contribution up to the lesser of $50 million or 10% of the amount of private investment in an athletic and entertainment facility project.