Adopting Tax Credits: The Federal Government’s Special Need to Adopt Missouri’s Adoption Tax Credit

Authors

Joseph Link

Abstract

HB 429 passed the Missouri Legislature and was signed into law by Governor Mike Parson on April 22, 2021. The legislation intends to relieve the financial burden on parents who are seeking adoption of a child or disabled person. The law has undergone major reforms in recent history. Missouri’s 2021 HB 429 amended the Special Needs Adoption Tax Credit Act and thereby decreased the requirements imposed on taxpayers to receive the tax benefits offered by the state to aid in adoption expenses. In addition, it expanded the state’s ability to offer the credit beyond the means of usual nonrefundable credits--by turning the credit into one that could be transferred, sold, or refunded to the taxpayer.

First Page

260

Recommended Citation

Joseph Link, Adopting Tax Credits: The Federal Government’s Special Need to Adopt Missouri’s Adoption Tax Credit, 8 Bus. Entrepreneurship & Tax L. Rev. 260 (2024).
Available at: https://scholarship.law.missouri.edu/betr/vol8/iss1/12