Missouri Working Family Tax Credit FAQs
Beginning in 2023, the Missouri Working Family Tax Credit is a credit equal to a certain percentage of your federal earned income credit. To calculate the credit, complete Form MO-WFTC and attach it to your Missouri Individual Income Tax Return Form MO-1040 along with a copy of your federal return.
- You are allowed a federal earned income credit on your federal return for the same tax year.
- You claim a filing status of single, head of household, qualifying widow(er), or married filing combined.
- You have a tax liability after the application of a miscellaneous tax credit or a Property Tax Credit.
- You do not have investment income equal to or greater than $4,050.
The Missouri Working Family Tax credit is calculated using Form MO-WFTC. Attach Form MO-WFTC to your Missouri Individual Income Tax Return Form MO-1040 along with a copy of your federal return. If your federal return is not attached, the credit will be disallowed.
No. The credit is nonrefundable and cannot be carried forward to a subsequent tax year.
The qualifying child’s name, social security number, and birthdate.
- 10% for tax year 2023
- 20% for tax year 2024
If you still have questions, please check out other Individual Income Tax FAQs.