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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 income tax. The Credit is
against the non-resident fee charged to the student account.
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What qualifications must be met? |
The student must be a non-resident of Missouri and the student must
pay Missouri income tax. If the student is a dependent on another
person's tax return, that person must live outside Missouri and
that person must pay income tax to Missouri.
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What documentation is needed to claim the credit? |
1.
Completed and notarized application. (Please click here.)
2. A copy of your Missouri State Income Tax Return (MO-1040),
including the Non-resident Income Schedule (NRI).
3. If you are claiming the student as a dependent, a copy of
page 1 of your Federal 1040 form showing the student as a dependent,
is also needed.
4. All W2's, 1099's, or Schedules that show sources of Missouri
income for the same year as the tax return.
5. If when filing your Missouri state income taxes, you had to
make a payment to the Missouri Department of
Revenue, please submit a copy of the front and back of the
canceled check.
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How often should documentation be submitted? |
You must re-apply for the Non-Resident Tax Offset Credit
each year. Taxes from the previous year are used to
calculate tax offset for the current year. For example: 2002
tax information would be used for Summer Semester 2003, Fall
Semester 2003, and Winter Semester 2004. Tax credit not used
during the academic year (Summer semester through
Winter semester) cannot be carried forward to the next
academic year.
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How is the Non-Resident Tax Offset Credit applied to the
student's account? |
1. The first step is to determine
the amount of Missouri state income tax that was paid. This is the
amount found on the Missouri state income tax form listed as
"total tax".
2. 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.
3. Example: A student has $5000 of non-resident fees for Fall Semester
2003. The student also has a $4000 non-resident scholarship, which leaves
the student owing $1000 in non-resident fees. If $600 was paid in
Missouri state income tax then $600 non-resident tax offset credit would
be applied to the student's account and the student would then owe $400 in
non-resident fees.
4. Example: If a student owes $1000 in non-resident fees for Fall
Semester 2003 and $1700 was paid in Missouri state income tax, then $1000
non-resident tax offset credit would be applied to the student's account
and $700 would be held pending for Winter Semester 2004. If the student
had non-resident fees of $700 or more for Winter Semester 2004, then $700
tax offset credit would be applied.
If the student had $300 in
non-resident fees for Winter Semester 2004, then $300 tax offset credit
would be applied and the remaining $400 paid in Missouri state income tax
would be "lost" since the academic year is Summer, Fall, then Winter.
(See "How Often Should Documentation Be Submitted" listed above.)
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Who can answer additional questions about the Non-Resident
Tax Offset Credit? |
To find out if you are a non-resident student, please call the
Residency Office at 573-882-3852.
Information is also available at the
prospective students website.
To find out more information about the Non-Resident Tax Offset Credit
please contact the Cashiers Office at:
University of Missouri-Columbia
15 Jesse
Columbia, MO 65211
573-882-3097
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