57-18 Exhibit - Urging State of New Jersey to Implement Charitable Trust in Lieu of Local Taxes Plan.pdf

State Title  of  Credit Description Amount  of  Credit Statute Mississippi Land  Conservation  Credit an  income  tax  credit  for   The  credit  is  50%  of  the  allowable   Miss.  Code  Ann.    §27-­‐7-­‐ taxpayers  who  donate  land  or   transaction  costs  involved  in  the   22.21   an  interest  in  land  for  specific   donation  that  were  incurred  during   conservation  purposes the  tax  year.      Allowable  transaction   costs  consist  of  appraisal  costs  and   engineering,  surveying,   maintenance,  monitoring,  and  legal   fees,  including  document   preparation,  title  review,  and  title   insurance  costs.  The  credit  is  limited   to  the  lesser  of:  (1)  $10,000  or  (2)   the  tax  liability  for  the  year  reduced   by  the  sum  of  all  other  allowable   credits  except  credits  for

by  the  sum  of  all  other  allowable   credits  except  credits  for  tax   payments.  Any  unused  portion  of   the  credit  may  be  carried  forward   for  10  succeeding  tax  years.  Further,   there  is  a  maximum  limit  on  the   utilization  of  the  credit  of  $10,000   over  the  lifetime  of  the  taxpayer.     Missouri Agricultural  product   Taxpayers  who  contribute  to  the   100%  of  their  contributions Mo.  Rev.  Stat.   utilization  contributor  tax   Missouri  Agricultural  and  Small    §348.430(3)  ;  Mo.  Rev.   credit Business  Development  Authority   Stat.    §348.430(4)    ;Mo.   are  entitled  to  tax  credits Rev.  Stat.    §348.436   Missouri Youth  Opportunities   Taxpayers  that  contribute   30%  of  property  contribution  or  50%   Mo.  Rev.  Stat.    §135.460 Credit property  or  money  to  certain   of  monetary  contribution.  The   public  or  private  programs   credit,

erty  or  money  to  certain   of  monetary  contribution.  The   public  or  private  programs   credit,  however,  cannot  exceed   authorized  by  the  department  of   $200,000  per  tax  year,  per  taxpayer. economic  development  for   youth  opportunities  and  crime   prevention  are  allowed  a  tax   credit  against  personal  income   tax Missouri Residential  Treatment   Taxpayers  are  allowed  a  credit   50%  of  the  amount  of  an  eligible    Mo.  Rev.  Stat.   Agency  Credit against  personal  income  tax  for   donation    §135.1150(2)(3)  ;  Mo.   an  eligible  donation  made  to  a   Rev.  Stat.   qualified  residential  treatment    §135.1150(2)(5)    ;  Mo.   agency. Rev.  Stat.    §135.1150(3)  ;   Mo.  Rev.  Stat.    §135.1150(6)  ;  Mo.  Rev.   Stat.    §135.1150(8)    ;  Mo.  

Stat.    §135.1150(8)    ;  Mo.   Code  Regs.  13    §35-­‐ 100.010(1)  ;  Mo.  Code   Regs.  13    §35-­‐ 100.010(2)(B)    ;  Mo.  Code   Regs.  13    §35-­‐ 100.010(11)   Missouri Champion  for  Children   Taxpayers  are  allowed  a   50%  of  verified  contributions.  The   Mo.  Rev.  Stat.   Tax  Credit nonrefundable  tax  credit  against   contribution  must  be  at  least  $100.    §135.341(2)  ;  Mo.  Rev.   personal  income  tax  for  verified   The  minimum  amount  of  the   Stat.    §135.341(5)    ,   contributions  to  a  CASA,  child   champion  for  children  tax  credit  is   effective  March  29,  2013. advocacy  center  or  crisis  care   $50.   center.