The Meals for Communities Tax Credit Act establishes a new nonrefundable credit for eligible businesses that donate prepared meals to charitable organizations. Specifically, the bill would: Provide a 50% tax credit for the fair market value of qualified prepared meal donations, with a maximum credit of $7 per meal, adjusted to inflation; Cap the credit at $50,000 per year; Include guardrails to prevent businesses from double dipping by claiming both the prepared meal credit and the existing charitable deduction for any food donation; and Retain the same health and food safety standards for kitchens and donated meals as already required for commercial restaurant service.
Create a federal nonrefundable tax credit for eligible restaurants and retail food establishments that donate prepared meals to charitable organizations, equal to 50% of fair market value up to $7 per meal and capped at $50,000 per year, with anti-double-dipping and food-safety guardrails.
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