Eligible donors will receive generous state tax credits for their contribution toward building a new county library branch in Houston.
The Texas County Library Foundation was awarded $350,000 in Neighborhood Assistance Program (NAP) tax benefits by the Missouri Department of Economic Development. Many are eligible for the tax credit incentives.
The 7,200-square-foot library will be constructed as the top level of the Houston Storm Shelter at First and Pine streets. That’s south of the U.S. Post Office. A bid opening is planned for late next month.
Qualified donors receive a 70% state tax credit. Not only will they receive a deduction for the donation, but a tax credit that can directly reduce the amount of taxes owed. Tax credits can be used over a five-year period, and are available on a first-come, first-serve basis. The credits have been quickly taken during other capital campaigns in the community.
Businesses or individuals with Missouri business income quality, such as: Corporations, S-Corporations, LLCs, sole proprietors, partnerships, insurance companies, financial institutions, individuals operating a farm in Missouri and those with rental property.
For more information, check bit.ly/librarytaxcredits, call 417-838-7840 or stop by the Texas County Library in Houston. Checks can also be mailed to: Texas County Library Foundation, 117 W. Walnut St., Houston, MO 65483.
