Missouri Neighborhood Preservation Tax Credits

Missouri Neighborhood Preservation Tax Credits – The Missouri Neighborhood Preservation tax credit was enacted to provide an incentive for the rehabilitation or construction of owner-occupied homes in certain areas of the state.  Generally, these areas are distressed communities and eligible areas as defined by statute. 

Missouri Neighborhood Preservation tax credits are sellable or transferable with a carry back of 3 years and a carry forward of 5 years.  The Missouri Neighborhood Preservation tax credits can be used to offset Missouri income tax, corporate franchise tax, Bank Tax, Insurance Premium Tax, and other Financial Institution Tax. 

The Missouri Neighborhood Preservation tax credit program is currently capped at $8 million for Qualifying Areas and $8 million for Eligible Areas.  Applications for the Missouri Neighborhood Preservation tax credit are accepted starting in September and ending in mid-November.  The applications are granted preliminary approval based on a lottery process.