MO SB284

Qualified manufacturing companies (NAICS 31-33) that manufacture new products in Missouri may retain 100% of employee withholding tax for 10 years; those expanding existing product manufacturing may retain 50% for 7 years, beginning no earlier than January 1, 2016

Capital investment requirements: at least $75,000 per retained job for new products or $50,000 per retained job for existing product modifications, to be made within 2 years of starting to retain withholding tax

Qualified suppliers deriving more than 10% of sales from qualified manufacturers and adding 5+ new jobs may retain withholding tax for 3 years (or 5 years if paying wages at 120%+ of county average)

Individual company cap of $10 million per year in retained withholding tax; aggregate program cap of $15 million per year for all qualified manufacturing companies

Program automatically sunsets August 28, 2021, unless reauthorized by the General Assembly