Progressive Ozark Bank in Houston contributed Tuesday to the effort to build a new library 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 this month.
Qualified donors receive a 70 percent 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-service basis. The credits have been quickly taken during other capital campaigns in the community.
ELIGIBILITY
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.