HB 27 – Tax credits for donations. Authorizes an income tax credit to any taxpayer who donates cash or food to a senior citizen services center.
HB 50 – Elimination of certain taxes on annuities.
Eliminates the tax on a one-time early distribution from certain
annuities or retirement plans when the distribution does not exceed 20%
of the total balance of the account.
HB 56 – Tax credit for employers of students. Authorizes a tax credit for employers who hire certain high school students for summer employment.
HB 76 – Limitation of corporate franchise tax. Limits the tax liability of a corporation for corporate franchise taxes to no more than $2 million annually.
HB 77 – Reduction of corporate franchise tax.
Reduces over a five-year period the annual corporate franchise tax rate
from one-forty-fourth of 1% until no tax is imposed beginning January
HB 78 – Tax exemption for business income.
Authorizes an income tax exemption for the business income of any
individual or corporation to be phased in over five years until the
exemption is 50% of the taxpayer’s Missouri taxable business income.
HB 316 – State Debt Collections Act.
Changes the laws regarding the collection of money owed the state and
establishes the State Debt Collections Act; authorizes the Department of
Revenue to retain 1% of the amount of any sales and use taxes
collected; authorizes amnesty from assessment or payment of all
penalties and 50% of the interest due on some delinquencies; allows all
state agencies to refer collection of debt to the Department of Revenue.
HB 366 / SB 217/ SB 189 – Tax exemption for technology centers. (See Technology & Computer Law)
SB 15 – Tax deduction for federal taxes. Allows full deductibility of federal taxes for state income tax purposes.
SB 18 – Cap of corporate income tax. Caps corporate income taxes at two million dollars.
SB 19 – Corporate franchise tax phase-out. Phases out the corporate franchise tax over a five year period.
SB 146 – Deductions for business income. Creates individual and corporate income tax deductions for business income.
SB 185 – Sunset provision on all tax credits. Imposes a sunset upon all tax credit programs not currently subject to a sunset provision.
SB 190 / HB 85 – Tax credit for biomass engineered fiber fuel. (See Environmental & Energy Law)
SB 246 – Tax credit for technology companies. Creates a tax credit for investments in technology-based early stage Missouri companies.
SJR 1 – Fair tax. Replaces all taxes on income with a sales and use tax.
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