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MO HB82

Bill

Official Source

Status

Introduced

1/9/2013

Primary Sponsor

Delus Johnson

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Repeals and reenacts section 143.071, RSMo regarding corporate income taxation in Missouri
  • Sets corporate income tax rate at 5% for tax years beginning before September 1, 1993, and 6.25% for tax years beginning on or after September 1, 1993
  • Reduces corporate income tax rates for tax years beginning on or after January 1, 2013 for corporations that create new jobs with wages at least equal to the county average wage, with jobs lasting at least one year
  • Tax rate reductions range from 4.25% (10-19 new jobs) down to 0% (60 or more new jobs), decreasing by 1% for each 10-job tier
  • Creates tiered tax incentive structure: 20-29 jobs (3.25%), 30-39 jobs (2.25%), 40-49 jobs (1.25%), 50-59 jobs (0.25%)

Legislative Description

Reduces the corporate income tax rate for a company that creates a specified number of new jobs

Last Action

Referred: Ways and Means(H)

2/6/2013

Committee Referrals

Ways And Means2/6/2013

Full Bill Text

No bill text available