The Food Pantry Tax Credit reduces a donor’s state tax liability by 50¢ for each $1.00 in funds or purchased food (supported by receipts), up to a maximum of $2,500.00 per taxpayer. Individuals do not need to itemize their deductions to receive the credit.
To claim the credit a Food Pantry Tax Credit form [ http://dor.mo.gov/forms/MO-FPT_2013.pdf ] must be completed and signed by the taxpayer and the food pantry which received the donation. The pantry credit form and a credit summary form become part of the taxpayer’s 2013 tax filing. Requests for the Food Pantry Tax Credit must be received by April 15, 2014.
The Food Pantry Tax credit is also available for donation made to pantries this year. The credit can be requested next year when 2014 tax forms are filled.
“This credit isn’t just for big corporations or the wealthy,” Glenn Koenen, chair of the Hunger Task Force for the Missouri Association for Social Welfare (MASW) notes. “People who shared $50 or $100 with a food pantry in their neighborhood can claim this credit and reduce their taxes.”
“Pantries across our state are feeding a record number of our neighbors,” Jeanette Mott Oxford, executive director of MASW, explained. “They need more resources. This credit helps them raise the resources they need. We applaud the General Assembly for making the pantry credit part of the first bill sent to the governor in 2013.”
This session the legislature is considering a measure to increase the Food Pantry Tax Credit form the current $1.25 million per year to $1.75 million per year. The proposal is part of Senate Bill 638.
Every month a million Missouri residents visit pantries for needed, free food. A growing number of those requiring help are working poor and working class families who cannot earn enough to pay all their basic bills. Pantries across the state have struggled to keep up with demand.