Missouri House backs tax credit for business startup investors
Monday, April 2, 2012 | 7:06 p.m. CDT;
updated 10:14 p.m. CDT, Tuesday, April 3, 2012
JEFFERSON CITY — The Missouri House has approved legislation offering tax credits to millionaires who invest in startup businesses.
The measure would create a 50 percent tax credit for people who invest up to $100,000 in young companies. It would set a statewide maximum of $6 million to be awarded annually in each of the next 10 years.
The bill was approved 137-12 on Monday in the House, where it was backed by Republican and Democratic leaders. But it now goes to the Senate, where its prospects are shaky.
Senators have been at loggerheads over whether to rein in some of Missouri's existing tax credits while creating new incentives for businesses. As a result, proposals for individual new tax incentives have not fared well.
Like what you see here? Become a member.
Report corrections or additions here. Leave comments below here.
You must be logged in to participate in the Show Me the Errors contest.
Leave a comment
Speak up and join the conversation! Make sure to follow the guidelines
outlined below and register with our site.
You must be logged in to comment. (Our
full comment policy is here.)
- Don't use obscene, profane or vulgar language.
- Don't use language that makes personal attacks on fellow commenters or
discriminates based on race, religion, gender or ethnicity.
- Use your real first and last name when registering on the website. It will
be published with every comment.
(Read why we ask for that here.)
- Don’t solicit or promote businesses.
We are not able to monitor every comment that comes through. If you see
something objectionable, please click the "Report comment" link.
You must be logged in to comment.