MO SB882

Allows small businesses with fewer than 50 full or part-time employees to claim tax deductions for each new full-time job created during taxable years from January 1, 2011 through December 31, 2014

Provides $10,000 deduction per new job with an annual salary of at least the county average wage, or $20,000 per job if the business offers health insurance covering at least 50 percent of premiums

Defines "new job" as full-time positions working at least 35 hours per week that exceed the number of full-time employees from the same date in the prior year

Allows pass-through entities including partnerships, S-corporations, and limited liability companies to allocate deductions to partners, members, or shareholders for their direct use

Program automatically sunsets on December 31, 2014, unless reauthorized by the legislature; Department of Revenue establishes procedures and rules for claiming the deduction