INCENTIVE DESCRIPTION

State: MO
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Jobs Credits
Description: 1. BUSINESS USE INCENTIVES FOR LARGE SCALE DEVELOPMENT (BUILD): Income tax credits for the creation of a significant number of jobs. 2. MISSOURI QUALITY JOBS PROGRAM: Program is designed to assist in the creation of quality jobs. The credits apply only in the year they are earned. Refundable tax credit. The tax credits are may be transferred, sold or assigned. Businesses are divided into three categories: a)Small expanding businesses; b)Technology businesses; and c) High impact businesses. Amount of jobs created varies for each category. The tax credit is based upon the payroll of the new jobs. 3. WORK OPPORTUNITY TAX CREDIT PROGRAM: Tax incentive for a business to hire an employee from one of 8 targeted groups. The maximum amount of the credit is $2400. It may be carried backward one year or carried forward for 20 years. They may not be sold or transferred. 4. WELFARE TO WORK TAX CREDIT PROGRAM: Tax credit to encourage employers to hire long term welfare recipients. Maximum credit earned is $8500 . Tax credit may be carried back one year or carried forward 20. Credits may not be sold or transferred.
Eligibility Requirements: 1. For large development opportunities. 2. The company must offer health benefits and pay 50% of the premium. The company must also create a specific number of jobs based on the type of project. The average wage of the new jobs must equal or exceed the county average wage. The company may not have filed bankruptcy or be delinquent in federal, state or local taxes. Each time a company reaches its jobs target, it can begin a new five year period to claim the tax credits. Each year the company must provide documentation that the requirements have been met. A company may not receive benefits from the creation of new jobs if they are already involved in an enterprise zone, Business Facility program, Rebuilding Communities program or Brownfields Job and Investment tax credits. 3. Eight targeted groups include short-term welfare recipients, 18-24 year old welfare recipients, veterans receiving food stamps, vocational rehabilitation referrals, 18-24 year old Empowerment zone or Enterprise community residents, 16-17 year old Empowerment zone or Enterprise community residents hired as summer help, ex-felons from a low-income family and SSI recipients. Individual must be certified by the Missouri Division of Workforce Development. 4.An eligible applicant includes an individual who has received AFDC/TANF for the last 18 months, received AFDC/TANF for any 18 months since since Aug. 5, 1997 or stopped being eligible for AFDC/TANF because the 60 month limit was reached. Indiviual must be certified by the Missouri Division of Workforce Development.
Geographic Restrictions: Statewide
Granting Authority: Missouri Department of Economic Development


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.