Definitions--tax credit, amount--limitations--director of socialservices determinations, classification of maternityhomes--effective date.
135.600. 1. As used in this section, the following terms shall mean:
(1) "Contribution", a donation of cash, stock, bonds or othermarketable securities, or real property;
(2) "Maternity home", a residential facility located in this stateestablished for the purpose of providing housing and assistance to pregnantwomen who are carrying their pregnancies to term, and which is exempt fromincome taxation under the United States Internal Revenue Code;
(3) "State tax liability", in the case of a business taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapter143, RSMo, chapter 147, RSMo, chapter 148, RSMo, and chapter 153, RSMo,exclusive of the provisions relating to the withholding of tax as providedfor in sections 143.191 to 143.265, RSMo, and related provisions, and inthe case of an individual taxpayer, any liability incurred by such taxpayerpursuant to the provisions of chapter 143, RSMo;
(4) "Taxpayer", a person, firm, a partner in a firm, corporation or ashareholder in an S corporation doing business in the state of Missouri andsubject to the state income tax imposed by the provisions of chapter 143,RSMo, including any charitable organization which is exempt from federalincome tax and whose Missouri unrelated business taxable income, if any,would be subject to the state income tax imposed under chapter 143, RSMo,or a corporation subject to the annual corporation franchise tax imposed bythe provisions of chapter 147, RSMo, or an insurance company paying anannual tax on its gross premium receipts in this state, or other financialinstitution paying taxes to the state of Missouri or any politicalsubdivision of this state pursuant to the provisions of chapter 148, RSMo,or an express company which pays an annual tax on its gross receipts inthis state pursuant to chapter 153, RSMo, or an individual subject to thestate income tax imposed by the provisions of chapter 143, RSMo.
2. A taxpayer shall be allowed to claim a tax credit against thetaxpayer's state tax liability, in an amount equal to fifty percent of theamount such taxpayer contributed to a maternity home.
3. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state tax liability for the taxable year that the creditis claimed, and such taxpayer shall not be allowed to claim a tax credit inexcess of fifty thousand dollars per taxable year. However, any tax creditthat cannot be claimed in the taxable year the contribution was made may becarried over to the next four succeeding taxable years until the fullcredit has been claimed.
4. Except for any excess credit which is carried over pursuant tosubsection 3 of this section, a taxpayer shall not be allowed to claim atax credit unless the total amount of such taxpayer's contribution orcontributions to a maternity home or homes in such taxpayer's taxable yearhas a value of at least one hundred dollars.
5. The director of the department of social services shall determine,at least annually, which facilities in this state may be classified asmaternity homes. The director of the department of social services mayrequire of a facility seeking to be classified as a maternity home whateverinformation is reasonably necessary to make such a determination. Thedirector of the department of social services shall classify a facility asa maternity home if such facility meets the definition set forth insubsection 1 of this section.
6. The director of the department of social services shall establisha procedure by which a taxpayer can determine if a facility has beenclassified as a maternity home, and by which such taxpayer can thencontribute to such maternity home and claim a tax credit. Maternity homesshall be permitted to decline a contribution from a taxpayer. Thecumulative amount of tax credits which may be claimed by all the taxpayerscontributing to maternity homes in any one fiscal year shall not exceed twomillion dollars.
7. The director of the department of social services shall establisha procedure by which, from the beginning of the fiscal year until somepoint in time later in the fiscal year to be determined by the director ofthe department of social services, the cumulative amount of tax credits areequally apportioned among all facilities classified as maternity homes. Ifa maternity home fails to use all, or some percentage to be determined bythe director of the department of social services, of its apportioned taxcredits during this predetermined period of time, the director of thedepartment of social services may reapportion these unused tax credits tothose maternity homes that have used all, or some percentage to bedetermined by the director of the department of social services, of theirapportioned tax credits during this predetermined period of time. Thedirector of the department of social services may establish more than oneperiod of time and reapportion more than once during each fiscal year. Tothe maximum extent possible, the director of the department of socialservices shall establish the procedure described in this subsection in sucha manner as to ensure that taxpayers can claim all the tax credits possibleup to the cumulative amount of tax credits available for the fiscal year.
8. This section shall become effective January 1, 2000, and shallapply to all tax years after December 31, 1999.
Definitions--tax credit, amount--limitations--director of socialservices determinations, classification of maternityhomes--effective date.
135.600. 1. As used in this section, the following terms shall mean:
(1) "Contribution", a donation of cash, stock, bonds or othermarketable securities, or real property;
(2) "Maternity home", a residential facility located in this stateestablished for the purpose of providing housing and assistance to pregnantwomen who are carrying their pregnancies to term, and which is exempt fromincome taxation under the United States Internal Revenue Code;
(3) "State tax liability", in the case of a business taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapter143, RSMo, chapter 147, RSMo, chapter 148, RSMo, and chapter 153, RSMo,exclusive of the provisions relating to the withholding of tax as providedfor in sections 143.191 to 143.265, RSMo, and related provisions, and inthe case of an individual taxpayer, any liability incurred by such taxpayerpursuant to the provisions of chapter 143, RSMo;
(4) "Taxpayer", a person, firm, a partner in a firm, corporation or ashareholder in an S corporation doing business in the state of Missouri andsubject to the state income tax imposed by the provisions of chapter 143,RSMo, including any charitable organization which is exempt from federalincome tax and whose Missouri unrelated business taxable income, if any,would be subject to the state income tax imposed under chapter 143, RSMo,or a corporation subject to the annual corporation franchise tax imposed bythe provisions of chapter 147, RSMo, or an insurance company paying anannual tax on its gross premium receipts in this state, or other financialinstitution paying taxes to the state of Missouri or any politicalsubdivision of this state pursuant to the provisions of chapter 148, RSMo,or an express company which pays an annual tax on its gross receipts inthis state pursuant to chapter 153, RSMo, or an individual subject to thestate income tax imposed by the provisions of chapter 143, RSMo.
2. A taxpayer shall be allowed to claim a tax credit against thetaxpayer's state tax liability, in an amount equal to fifty percent of theamount such taxpayer contributed to a maternity home.
3. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state tax liability for the taxable year that the creditis claimed, and such taxpayer shall not be allowed to claim a tax credit inexcess of fifty thousand dollars per taxable year. However, any tax creditthat cannot be claimed in the taxable year the contribution was made may becarried over to the next four succeeding taxable years until the fullcredit has been claimed.
4. Except for any excess credit which is carried over pursuant tosubsection 3 of this section, a taxpayer shall not be allowed to claim atax credit unless the total amount of such taxpayer's contribution orcontributions to a maternity home or homes in such taxpayer's taxable yearhas a value of at least one hundred dollars.
5. The director of the department of social services shall determine,at least annually, which facilities in this state may be classified asmaternity homes. The director of the department of social services mayrequire of a facility seeking to be classified as a maternity home whateverinformation is reasonably necessary to make such a determination. Thedirector of the department of social services shall classify a facility asa maternity home if such facility meets the definition set forth insubsection 1 of this section.
6. The director of the department of social services shall establisha procedure by which a taxpayer can determine if a facility has beenclassified as a maternity home, and by which such taxpayer can thencontribute to such maternity home and claim a tax credit. Maternity homesshall be permitted to decline a contribution from a taxpayer. Thecumulative amount of tax credits which may be claimed by all the taxpayerscontributing to maternity homes in any one fiscal year shall not exceed twomillion dollars.
7. The director of the department of social services shall establisha procedure by which, from the beginning of the fiscal year until somepoint in time later in the fiscal year to be determined by the director ofthe department of social services, the cumulative amount of tax credits areequally apportioned among all facilities classified as maternity homes. Ifa maternity home fails to use all, or some percentage to be determined bythe director of the department of social services, of its apportioned taxcredits during this predetermined period of time, the director of thedepartment of social services may reapportion these unused tax credits tothose maternity homes that have used all, or some percentage to bedetermined by the director of the department of social services, of theirapportioned tax credits during this predetermined period of time. Thedirector of the department of social services may establish more than oneperiod of time and reapportion more than once during each fiscal year. Tothe maximum extent possible, the director of the department of socialservices shall establish the procedure described in this subsection in sucha manner as to ensure that taxpayers can claim all the tax credits possibleup to the cumulative amount of tax credits available for the fiscal year.
8. This section shall become effective January 1, 2000, and shallapply to all tax years after December 31, 1999.
Definitions--tax credit, amount--limitations--director of socialservices determinations, classification of maternityhomes--effective date.
135.600. 1. As used in this section, the following terms shall mean:
(1) "Contribution", a donation of cash, stock, bonds or othermarketable securities, or real property;
(2) "Maternity home", a residential facility located in this stateestablished for the purpose of providing housing and assistance to pregnantwomen who are carrying their pregnancies to term, and which is exempt fromincome taxation under the United States Internal Revenue Code;
(3) "State tax liability", in the case of a business taxpayer, anyliability incurred by such taxpayer pursuant to the provisions of chapter143, RSMo, chapter 147, RSMo, chapter 148, RSMo, and chapter 153, RSMo,exclusive of the provisions relating to the withholding of tax as providedfor in sections 143.191 to 143.265, RSMo, and related provisions, and inthe case of an individual taxpayer, any liability incurred by such taxpayerpursuant to the provisions of chapter 143, RSMo;
(4) "Taxpayer", a person, firm, a partner in a firm, corporation or ashareholder in an S corporation doing business in the state of Missouri andsubject to the state income tax imposed by the provisions of chapter 143,RSMo, including any charitable organization which is exempt from federalincome tax and whose Missouri unrelated business taxable income, if any,would be subject to the state income tax imposed under chapter 143, RSMo,or a corporation subject to the annual corporation franchise tax imposed bythe provisions of chapter 147, RSMo, or an insurance company paying anannual tax on its gross premium receipts in this state, or other financialinstitution paying taxes to the state of Missouri or any politicalsubdivision of this state pursuant to the provisions of chapter 148, RSMo,or an express company which pays an annual tax on its gross receipts inthis state pursuant to chapter 153, RSMo, or an individual subject to thestate income tax imposed by the provisions of chapter 143, RSMo.
2. A taxpayer shall be allowed to claim a tax credit against thetaxpayer's state tax liability, in an amount equal to fifty percent of theamount such taxpayer contributed to a maternity home.
3. The amount of the tax credit claimed shall not exceed the amountof the taxpayer's state tax liability for the taxable year that the creditis claimed, and such taxpayer shall not be allowed to claim a tax credit inexcess of fifty thousand dollars per taxable year. However, any tax creditthat cannot be claimed in the taxable year the contribution was made may becarried over to the next four succeeding taxable years until the fullcredit has been claimed.
4. Except for any excess credit which is carried over pursuant tosubsection 3 of this section, a taxpayer shall not be allowed to claim atax credit unless the total amount of such taxpayer's contribution orcontributions to a maternity home or homes in such taxpayer's taxable yearhas a value of at least one hundred dollars.
5. The director of the department of social services shall determine,at least annually, which facilities in this state may be classified asmaternity homes. The director of the department of social services mayrequire of a facility seeking to be classified as a maternity home whateverinformation is reasonably necessary to make such a determination. Thedirector of the department of social services shall classify a facility asa maternity home if such facility meets the definition set forth insubsection 1 of this section.
6. The director of the department of social services shall establisha procedure by which a taxpayer can determine if a facility has beenclassified as a maternity home, and by which such taxpayer can thencontribute to such maternity home and claim a tax credit. Maternity homesshall be permitted to decline a contribution from a taxpayer. Thecumulative amount of tax credits which may be claimed by all the taxpayerscontributing to maternity homes in any one fiscal year shall not exceed twomillion dollars.
7. The director of the department of social services shall establisha procedure by which, from the beginning of the fiscal year until somepoint in time later in the fiscal year to be determined by the director ofthe department of social services, the cumulative amount of tax credits areequally apportioned among all facilities classified as maternity homes. Ifa maternity home fails to use all, or some percentage to be determined bythe director of the department of social services, of its apportioned taxcredits during this predetermined period of time, the director of thedepartment of social services may reapportion these unused tax credits tothose maternity homes that have used all, or some percentage to bedetermined by the director of the department of social services, of theirapportioned tax credits during this predetermined period of time. Thedirector of the department of social services may establish more than oneperiod of time and reapportion more than once during each fiscal year. Tothe maximum extent possible, the director of the department of socialservices shall establish the procedure described in this subsection in sucha manner as to ensure that taxpayers can claim all the tax credits possibleup to the cumulative amount of tax credits available for the fiscal year.
8. This section shall become effective January 1, 2000, and shallapply to all tax years after December 31, 1999.
