MO Small Business Incubator Tax Credits Available
MO Small Business Incubator Tax Credits Available
August 1, 2017
Center for Emerging Technologies (CET) has received $50,000 in 2017 Small Business Incubator tax credits. Donations made by December 31, 2017 to support capital improvements to and maintenance of CET labs, equipment and facilities are eligible to receive tax credits in the amount of 50% of the contributions made to CET for these activities.
Any excess tax credits can be carried forward for up to 5 years and the taxpayer may sell credits for about $0.91 of their dollar value. The illustration below shows the estimated net cost of the donation after tax benefits are calculated. This can be a particularly beneficial program for those making gifts of appreciated stock. For more information please contact Rikki Henry at rhenry@cortexstl.com.