Missouri Low Income Housing Tax Credit

Missouri Low Income Housing Tax Credit Summary

  • Applicable against Missouri individual and corporate income tax, as well as Missouri insurance premium taxes and bank taxes.
  • Can be utilized by any entity subject to Missouri income tax.
  • Low default rate over the 20+ year history
  • Recapture risk is only on one-third of the accelerated portion of the credits
  • Credits can be allocated to any partner of a partnership or member of an LLC in any manner
  • No requirement to comply with federal allocation rules
  • Can be carried forward for five years and carried back for three years (credit not to exceed the taxpayer’s Missouri income tax liability)
  • May offset 100% of taxpayer’s liability
  • Can be acquired in multi-year strips of credits anywhere in duration from 2 to 10 years
  • Transferrable to other entities