To receive Youth Opportunities Program Tax Credits for your donation to St. Louis ArtWorks, please follow these steps:

Click here to download a YOP form.

Fill it out, have it notarized, and mail it back to the ArtWorks offices with:  

For check donations:

·         a copy of your cancelled check  

For credit card donations:

·         a copy of your PayPal Transaction AND

·          a copy of your credit card statement containing the donation, with account number and all other charges blacked out. 

For donations of stock:

·         a letter or portfolio stating the donor's name, the organization's name, the number of shares donated, the type of stock, and the date of transfer 

For in-kind donations:

·         a letter stating the donor’s name, the organization’s name, a description of the donation, its fair market value, and the date it was made  

 

Once we receive your notarized application and accompanying materials, we will send it on to the Missouri Department of Economic Development, Youth Opportunities Program. YOP will process the application and issue you a “Certification of Eligibility Form,” authorizing you to claim the tax credits.

 

Answers to Frequently Asked Questions about Missouri’s YOP Tax Credit Program:

Q. Are stocks, bonds, or donated professional services eligible contributions?
A. Eligible Contributions:

• Cash,
• Publicly-traded stocks and bonds (starting January 1, 2001),
• Materials, equipment, or property specifically used for the YOP project, and
• Wages paid to youth in an approved internship/apprenticeship/employment project.

Ineligible Contributions:

• Labor and professional services,
• Contributions to pay for fund raising activities, and
• Used clothing.

Q. Which taxes can YOP tax credits be used to offset?
A. The tax credits can be used to offset state income tax due pursuant to:

• RSMo chapter 143- individual state income tax, excluding withholding tax imposed by sections 143.191 to 143.265;
• RSMo chapter 147-corporate franchise tax;
• RSMo chapter 148-gross premium receipts tax of insurance companies and tax of banks and other financial institutions; or
• RSMo chapter 153-gross receipts tax of express companies.

Q. How long does a donor have to submit the tax credit application into YOP before the donor must forfeit the tax credits?
A. Twelve months from the date of contribution (date on the check).

Q. What is the turnaround time for processing tax credit applications?
A. Approximately 2 weeks. However, depending on the volume received from December 1-April 15, the turnaround time may be slower.

Q. What is the process to use YOP tax credits on the donor's tax return?
A. The donor makes a contribution to an approved YOP project, submits Form CDTC-770 with the required documentation, and receives a certification from the Department of Economic Development. The taxpayer may then file their tax return at the end of their tax year, using the MO-TC form. The tax credits are applied to their total tax liability incurred for that tax period. For example, a contributor makes a $1,000 contribution to an approved YOP project:

• Total tax liability for tax year 20XX: $2,000
• Tax Credits: $500
• Adjusted tax liability $: $1,500

Q. How can the donor obtain the forms needed to claim the tax credits?
A. Form CDTC-770 Tax Credit Application can be obtained from the approved organization to which the donor made the contribution. To obtain the MO-TC form contact the Missouri Department of Revenue at 800-877-6881 or download it from their website at http://www.dor.mo.gov.

 Q. Is there a maximum amount a donor can contribute for YOP tax credits?
A. Yes. A donor may receive no more than $200,000 in YOP tax credits in one tax year for contributions made to one or more YOP approved projects unless the projects are located in blighted or distressed areas of the state. 

 Q. If the donor does not have enough tax liability in the tax year the contribution is made, can the credits be used on subsequent tax returns?
A. Yes. The contributor has the tax year the contribution was given and five succeeding tax periods in which to use the credits.

 Q. Are the tax credits sellable or transferable?
A. No.