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MO HB1628

Bill

Official Source

Status

Introduced

1/28/2014

Primary Sponsor

Bart Korman

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Expands tax credit eligibility to include distilleries and microbreweries (as defined in section 311.195), in addition to existing grape growers and wine producers
  • Allows tax credit of 25 percent of purchase price for new and used equipment and materials used in growing grapes, producing wine, distilling spirits, or brewing beer in Missouri
  • Limits tax credit eligibility to five tax periods per applicant
  • Caps total annual tax credits statewide at $4 million for tax years beginning on or after August 28, 2014, with a per-taxpayer annual limit of $100,000
  • Requires applicants to submit to the Department of Economic Development annually, which certifies amounts to the Department of Revenue

Legislative Description

Changes the laws regarding the wine and grape producers tax credit

Last Action

HCS Voted Do Pass (H)

4/15/2014

Committee Referrals

Economic Development2/5/2014

Full Bill Text

No bill text available