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MO HB542
Bill
Status
1/15/2015
Primary Sponsor
Delus Johnson
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AI Summary
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Reduces Missouri corporate income tax rate from 6.25% for corporations creating new jobs paying at least the average county wage, with jobs existing for at least one year, effective January 1, 2016
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Tax rate reductions based on job creation tiers: 10-19 new jobs (4.25%), 20-29 jobs (3.25%), 30-39 jobs (2.25%), 40-49 jobs (1.25%), 50-59 jobs (0.25%)
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Corporations creating at least 60 new qualifying jobs pay no corporate income tax
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Out-of-state businesses operating under sections 190.270 to 190.285 are excluded from these provisions
Legislative Description
Reduces the corporate income tax rate for a company that creates a specified number of jobs
Last Action
Referred: Economic Development and Business Attraction and Retention(H)
4/14/2015