Form MO-CFC Champion for Children Tax Credit - Missouri

What Is Form MO-CFC?

This is a legal form that was released by the Missouri Department of Revenue - a government authority operating within Missouri. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the MO-CFC Champion for Children Tax Credit?
A: The MO-CFC Champion for Children Tax Credit is a tax credit offered by the state of Missouri.

Q: Who is eligible for the MO-CFC Champion for Children Tax Credit?
A: Individuals or businesses who make qualifying contributions to organizations that provide services to children in Missouri may be eligible for the tax credit.

Q: What is the purpose of the MO-CFC Champion for Children Tax Credit?
A: The purpose of the tax credit is to incentivize donations to organizations that benefit children in Missouri.

Q: How much tax credit can I receive?
A: The tax credit is equal to 50% of the amount donated, up to a maximum credit of $200,000 for businesses and $100,000 for individuals.

Q: Are there any limits on the tax credit?
A: Yes, the total amount of tax credits authorized each year is limited.

Q: How do I claim the MO-CFC Champion for Children Tax Credit?
A: To claim the tax credit, you must complete and submit Form MO-CFC with your Missouri state tax return.

Q: Is there a deadline for claiming the tax credit?
A: Yes, the tax credit must be claimed for the tax year in which the donation was made, and the tax return must be filed by the appropriate deadline.