TAX credits

Missouri Works: Businesses that create at least two full-time jobs with wages between 80% and 140% of the average county wage (depends on project location) may have the ability to retain the state withholding tax of the newly created jobs or receive a refundable corporate income tax credit.  The actual value of the incentive award will be based on the number of jobs created, project location, payroll, and capital investment.

JOB TRAINING

New Jobs Training: Provides assistance in reducing the cost associated with expanding a workforce or locating a new facility in the state of Missouri through customized or general skill training.

TAX EXEMPTIONS

Data Center Sales and Utility Tax Exemption: Businesses that create 10 full-time jobs with wages that are at or above 150% of the county average wage and invest $25 million in a new data center facility may receive a full 15-year exemption of sales and utility taxes.  A 10-year exemption is available for companies that expand an existing data center facility by investing $5 million and creating at least 5 full-time jobs with wages that are at or above 150% of the county average wage.

Sales Tax Exemption for Manufacturers: Energy, machinery and equipment used or consumed in the manufacturing process is exempt from state sales and use tax.  

Chapter 100 Sales Tax Exemption: Provides a sales tax exemption on tangible personal property purchased through Chapter 100 bonds for non-manufacturing purchases. Companies eligible for Chapter 100 bond financing include manufacturing, warehousing, distribution, office, research and development, agricultural processing, and services in interstate commerce.

 

Last updated:  April 2016

 


 
BIGGINS LACY SHAPIRO & COMPANY
PRINCETON
47 Hulfish Street, Suite 320
Princeton, NJ 08542
(609) 924-9775
NEW YORK
215 Park Ave South
New York, NY 10003
(646) 652-7555
CHICAGO
30 S. Wacker, Suite 2200
Chicago, IL 60606
(312) 924-2490