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Article: Missouri's Adoption Tax Credits Bill Will Help, But Won't Solve All Concerns.
- Article from:
- St. Louis Post-Dispatch (St. Louis, MO)
- Article date:
- June 1, 2004
CopyrightCOPYRIGHT 2004 St. Louis Post-Dispatch. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matthew Franck
Jun. 1--JEFFERSON CITY, Mo. -- Missouri is poised to double what is already regarded as the nation's largest state tax incentive for adoptions, but hundreds of parents may still find it difficult to fully cash in on the benefits.
Last month, the Missouri Legislature voted to increase spending on the tax credit program to $4 million a year -- up from the current $2 million. The credits already allow most adoptive parents to apply for up to $10,000 in tax relief over five years. Most other states, including Illinois, have no state tax credit of any kind for adoption.
In the past few years, demand for Missouri's tax credits ...