| State: |
MO |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Other Tax Credits |
| Description: |
1. REDEVELOPMENT: Income tax credits for the costs of eligible remediation of commercial/industrial sites owned by a government agency or that are privately owned.
2. SMALL BUSINESS INCUBATOR TAX CREDIT: Income tax credit for contributions to an approved incubator sponsor in an amount equal to 50% of such contribution.
3. BUSINESS MODERNIZATION & TECHNOLOGY TAX CREDIT: Income tax credit equal to 50% of the amount of a qualified contribution to a qualified fund.
4. BANK FRANCHISE TAX CREDIT: Bank franchise tax credit equal to one-sixtieth of one percent of its outstanding shares and surplus if they exceed $1 million.
5. BANK TAX CREDIT: A pro rata share of the bank tax credit shall be allowed against each S corporation shareholders' state income tax.
6. CHARCOAL PRODUCERS INCOME TAX CREDIT: Income tax credits for the purpose or implementing safe and efficient environmental controls. Credit is equal to 50% of the purchase price or manufacturing cost of the best avaialble control technology equipment. Expires in 2006.
7. FILM PRODUCERS TAX CREDIT: Income tax credits equal to 50% of expenditures necessary for the making of a film, not to exceed $1 million in tax credits per project.
8. LOAN GUARANTEE FEE TAX CREDIT: Income tax credits in an amount equal to any amount paid by the eligible small business to the US SBA as a guaranty fee for obtaining a loan.
9. WINE AND GRAPE TAX CREDIT: Income tax credit in an amount equal to 25% of the purchase price of new equipment and materials used directly in the growing of grapes or the production or wine. |
| Eligibility Requirements: |
1. Sites must have been abandoned for at least 3 years and have contamination caused by hazardous substances. The project must result in the creation of at least 10 new jobs or the retention of 25 jobs by a private commercial operation.
2. Must have the area approved as a 'protective business environment' (incubator).
3. Must contribute to a qualified fund.
5. Only for S corp shareholders of banks.
6. For companies engaged in the business of producing charcoal or charcoal products.
7. Company must spend $300,000 or more in the making of the film.
8. Small businesses as defined in IRC Section 44; must have gross receipts less than $1 million; or if >$1 million, less than 30 full time employees.
9. Must be actively involved in the production of wine or the growing of grapes. |
| Geographic Restrictions: |
Statewide |
| Granting Authority: |
Missouri Department of Economic Development |
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