MO HB743

Eligible small businesses (as defined in IRC Section 44) may claim a state tax credit equal to guaranty fees paid to the U.S. Small Business Administration for SBA-guaranteed financing or to USDA rural development/farm service agency programs

Tax credits issued on or after January 1, 2015 cannot be transferred, sold, or assigned

Excess credits are not refundable but may be carried forward for up to ten subsequent taxable years

Removes previous language that had sunset the authorization of new tax credits, effectively reauthorizing the program

Applies to all taxable years beginning on or after January 1, 2015, and exempts this section from legislative oversight provisions in sections 23.250 to 23.298