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Missouri Department of Economic Development Awards $82,000 in State Tax Credits to efactory

2022 Tax Credits

The Missouri Department of Economic Development has awarded Missouri State University and the efactory $82,689 in tax credits for donations received in the 2022 calendar year. 

Download the 2022 Small Business Incubator Tax Credit packet to learn more. 

State of Missouri Tax Credits

Any individual or business with Missouri tax liability is eligible to receive the 2022 tax credits by making a donation to Missouri State University. This is a direct 50% credit off the individual or corporation’s Missouri state taxes. 

For example, if a donor made a $10,000 donation to the efactory, the donor could receive a $5,000 direct credit against their state income tax after filing the appropriate paperwork. In addition to the state income tax credit, $5,000 may be taken as a charitable deduction against federal income tax, which would further reduce the actual cost of the donation. 

The tax credits may be carried forward up to 5 years and applied to future tax liability. 

Supporting Entrepreneurs, Innovators and Job Creators

Private donations play a critical role in our work to support dreamers, doers, innovators and job creators. The efactory’s 2022 Small Business Incubator Tax Credits allow individuals and businesses to show their support for entrepreneurship and innovation in southwest Missouri while also reducing tax liability. 

Previous gifts have paved the way for important building upgrades, outfitting of conference rooms and collaborative spaces, and more. 

Naming opportunities are also available. Please contact Allen Kunkel or Rachel Anderson to learn more.