ANNOUNCEMENT 19 Mar 2015
In 2016 the state of Missouri provided a new tax incentive.
NUMBER OF INTERVENTIONS
On July 6, 2016 the governor of Missouri signed into law a bill (H.B.325) that will allow businesses choosing to relocate within Missouri to deduct up to half of the cost of moving their operations. Businesses claiming the deduction would be allowed to eliminate the out-of-state unit in a year other than the year of the relocation, and would be required to incur the expenses under a written in-sourcing plan. To be eligible for the deduction, the number of full-time employees in Missouri for the year of the deduction must exceed the number of full-time employees for the year preceding the year in which the expenses were paid or incurred. The maximum annual amount of tax deductions allowed under the program would be capped at $20 million.