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MO SB293
Bill
Status
1/22/2015
Primary Sponsor
Mike Parson
Click for details
AI Summary
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Expands the existing 25% tax credit for grape growers and wine producers to include both new and used equipment and materials, where previously only new equipment qualified
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Tax credit applies to equipment and materials used directly in growing grapes or producing wine in Missouri
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Establishes a new annual cap of $1 million on total tax credits issued under this program, effective for taxable years beginning on or after August 28, 2015
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Individual growers or producers remain limited to claiming the credit for a maximum of five tax periods
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Amends Section 135.700, RSMo, which has been in effect since January 1, 1999
Legislative Description
Allows the Wine and Grape Tax Credit to be used for used equipment and caps the credit at one million dollars annually
Last Action
Second Read and Referred S Jobs, Economic Development and Local Government Committee
2/12/2015