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Non-Resident Tax Offset Credit
The Tuition Tax Offset for Missouri Income Taxes Paid by non-Missouri Residents WILL be phased out beginning with students who start at Missouri S&T in Spring 2018 or later.
What is the Non-Resident Tax Offset Credit?
The Tax Offset Credit is a procedure used to give dollar for dollar credit to non-resident students who pay Missouri state income tax. The Credit is used to offset the non-resident tuition fee charged to the student account.
What Qualifications Must Be Met?
The student must be a non-resident of the state of Missouri and must pay Missouri state income tax. If the student is a dependent on another person's tax return, that person must live outside the state of Missouri and must pay Missouri state income tax.
What Documentation is Needed to Claim the Credit?
- A copy of the student's Missouri State Income Tax Return (MO-1040 or MO-1040A), including the Non-resident Income Schedule (NRI).
- If the student is claimed as a dependent on another person's tax return, a copy of page 1 of that person's Federal 1040 or 1040A form showing the student as a dependent, is required in addition to that person's Missouri State Income Tax Return (MO-1040 or MO-1040A) and Non-resident Income Schedule (NRI).
- All W2's, 1099's, or Schedules that show sources of Missouri income for the same year as the tax return.
- Please submit copies of the above documentation. This information will not be returned. It is the student's responsibility to obtain copies of the appropriate documentation.
How Often Should Documentation Be Submitted?
The student must re-apply for the Non-Resident Tax Offset Credit each year. Taxes from the previous tax year are used to calculate the tax offset for the current academic year. For example; 2015 tax information would be used for Fall Semester 2016 and Spring Semester 2017. Tax credit not used during the academic year cannot be carried forward to the next academic year. Tax documents can only be submitted during the academic year they will be used.
How is the Non-Resident Tax Offset Credit Applied to the Student's Account?
- The first step is to determine the amount of Missouri state income tax that was due. This is the amount found on the Missouri state income tax form listed as "total tax".
- The second step is to determine the amount of non-resident fees charged to the student. If the student is receiving a Non-Resident Scholarship, the amount of the scholarship is subtracted from the non-resident fees charged to the student prior to the application of the Non-Resident Tax Credit.
- The Cashier's office then applies the necessary tax offset credit.
Example 1: A student has $500.00 in non-resident fees for Fall 2016 and $1500.00 was paid in Missouri state taxes for tax year 2015. We would then apply $500.00 to offset the Fall 2016 non-resident charges and $1000.00 would be available for Spring 2017. If the student had only $600.00 in non-resident fees for Spring 2017, we would apply the tax credit of $600.00 and the remaining $400.00 would be unavailable for further use since Spring is the last semester of the academic year. (See "How Often Should Documentation Be Submitted" listed above.)
Example 2: A student has $2000.00 in non-resident fees for Fall 2016 and receives a $1500.00 Excellence Sch II -Non-Res., which results in the student owing $500.00 in non-resident fees. If $300.00 was paid in Missouri state taxes for tax year 2015, the student would then only owe $200.00 in non-resident fees. There would be no credit left to be applied to Spring 2017.
What If Classes are Dropped or Your Non-Resident Fees are Otherwise Reduced?
The tax-offset credit can only be used to reduce the non-resident tuition fees. If the non-resident tuition fees are reduced, the amount of the tax-offset credit will also be reduced if the offset credit is more than the actual non-resident tuition fees charged.
Who Can Answer Additional Questions About the Non Resident Tax Credit?
To find out more information about the Non-Resident Tax Credit, please contact the Cashier's Office at (573)341-4195.