MO HB1805

Allows employers in Missouri a tax credit equal to 10% of compensation paid to interns in science, technology, engineering, or mathematics programs lasting at least 12 weeks at 15+ hours per week, effective for taxable years beginning January 1, 2010.

For unpaid internship programs, provides a tax credit of one-half of one percent of the taxpayer's annual state income tax per intern instead of the 10% compensation credit.

Limits tax credits to a maximum of 20 interns per taxpayer per year and $5,000 cumulative per taxpayer, with credits not to exceed the taxpayer's state tax liability for that year.

Applies to employers subject to Missouri income tax (chapter 143), corporate franchise tax (chapter 147), financial institutions tax (chapter 148), or public utilities tax (chapter 153), excluding withholding taxes.

Program automatically sunsets December 31 six years after effective date unless reauthorized by the General Assembly, with a secondary sunset 12 years after any reauthorization.