MO HB1043

Allows eligible small businesses (as defined in Section 44 of the Internal Revenue Code) a tax credit against Missouri income tax equal to guaranty fees paid to the United States Small Business Administration for guaranteed financing.

Extends the tax credit to guaranty fees paid to programs administered by the United States Department of Agriculture for rural development or farm service agencies.

Prohibits new tax credits from being authorized 30 days after the bill's effective date, though previously issued credits may still be redeemed.

Makes tax credits issued under this section non-transferable and allows unused credits to be carried forward for up to ten subsequent taxable years from the year of issuance.