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MO HB1499

Bill

Official Source

Status

Introduced

1/16/2014

Primary Sponsor

Anne Zerr

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Allows grape growers and wine producers a tax credit equal to 25% of the purchase price of new and used equipment and materials used directly in growing grapes or producing wine in Missouri
  • Applies to all tax years beginning on or after January 1, 1999, with credits claimed against state tax liability under chapter 143
  • Limits each grower or producer to claiming the credit for only five tax periods
  • Caps the total annual tax credits allowed statewide at $200,000 for taxable years beginning on or after August 28, 2014
  • Requires applicants to submit claims to the Department of Economic Development, which certifies the credit amount to the Department of Revenue

Legislative Description

Changes the laws regarding the tax credit for wine production

Last Action

Voted Do Pass (H)

4/15/2014

Committee Referrals

Economic Development1/29/2014

Full Bill Text

No bill text available