MO HB975

Establishes the "Small Business and Entrepreneurial Growth Act" effective for taxable years beginning on or after January 1, 2012.

Small business employers qualify for benefits if they increase payroll by at least 20% through new jobs, or if businesses with fewer than 5 employees grow to 5 or more employees.

Limits new job creation to 10 tech jobs, 20 jobs in rural areas, and 40 jobs in urban areas, with wages set at average county wage.

Allows employers to retain all state income tax withheld from newly created jobs for one year, or two years if the employer provides health insurance and pays more than 50% of premiums for all employees.

Disqualifies employers receiving benefits under this section from eligibility for benefits under sections 620.1875 to 620.1890.