HCS HB 78 – Jobs for education. Establishes
the Missouri Jobs for Education Program to provide a tuition credit for certain
business owners or companies who create new full-time jobs. Specifically allows
a qualifying business owner or company to receive a credit toward tuition for
every qualifying job created.
HB 82 – Corporate income tax. Reduces
the corporate income tax rate for a company that creates a specified number of
new jobs. Specifically reduces the corporate income tax rate from 6.25% to
4.25% for any company that creates 10 to 19 new jobs, 3.25% for 20 to 29 new
jobs, 2.25% for 30 to 39 new jobs, 1.25% for 40 to 49 new jobs, and 0.25% for
50 to 59 new jobs, and 0.00% for 60 or more new jobs, where each new job
created has a wage that is at least equal to the average wage of the county
where the job is located.
HB 253 – Business income tax. Establishes
the Broad- Based Tax Relief Act of 2013 that reduces the tax on corporate
business income and business income for sole proprietors, partners, and
shareholders in S-corporations.
HB 536 / SB 11 – Income tax. Creates
a phased-in individual income tax deduction for business income and reduces the
corporate income tax rate over a five-year period. Allows taxpayers to deduct
10% of business income for the 2013 tax year, increasing by 10% annually to a
maximum of 50% for
all years after 2016. Shareholders of S corporations and partners in
partnerships will be allowed a proportional deduction based on their share of
HB 606 – Low-profit LLCs. Allows
for the creation of a low-profit limited liability company in Missouri. A
low-profit LLC would be defined as an LLC that has set forth in its articles of
organization a business purpose that satisfies and is at all times operated to
further one or more charitable or educational purposes within the meaning of 26
U.S.C. 170(c)(2)(B) and would not have been formed but for that purpose.
SB 382 – Personal and corporate income tax. Changes the rates of tax on personal and corporate income.
Specifically modifies the individual income tax rate so that all income over
$7,000 will be taxes at the rate of five percent, and reduces the corporate
income tax rate from 6.25% to 5.25%.