Missouri Quality Jobs Program Tax Credits

Missouri Business Incentives. Missouri offers several incentives to help your business grow. Wine and Grape Tax Credit. The Wine and Grape Tax Credit Program assists vineyards and wine producers with the purchase of new equipment and materials by granting a tax credit for a portion of the purchase price.

Rebuilding Communities. The program is designed to stimulate business activity in Missouri’s “distressed communities” by providing tax credits to eligible businesses that locate, relocate or expand their business within a distressed community. Quality Jobs Program. Missouri’s Quality Jobs Program facilitates the creation of quality jobs by targeted business projects. For small and expanding businesses, the benefit of the program is the retention of the state withholding tax of the new jobs. Contact the economic development official in your area to learn more about local incentives your business might qualify to use.

Commonly Used Incentive Programs Missouri Quality Jobs Program. STATUTORY CITATION: Section 620.1875-620.1900.RSMo. TYPES OF BENEFITS: State withholding tax retention and tax credits. DESCRIPTION OF BENEFITS: For “Small. The Quality Jobs Program. Missouri Quality Jobs; Missouri Works Program; Rebuilding Communities; SBA 504 Loan Program; SBA 7(a). State tax credits, which are refundable and/or sellable. There is no annual limit on the retained.

Missouri Quality Jobs Program. This bill replaced the Quality Jobs program with Missouri Works. These tax credits can be issued by the department in any fiscal. Missouri Quality Jobs Act by reducing from $70 million to $50. The Missouri Jobs for Education Program is established to provide. Missouri Quality Jobs; Missouri Works Program; Rebuilding Communities. Missouri Quality Jobs. Missouri Department of Economic Development has replaced this program with the Missouri Works Program.

Enhanced Enterprise Zone. Contact Missouri Department of Economic Development. Division of Business and Community Services Finance Management Team. West High Street, Room 7. P. O. Box 1. 18 Jefferson City, MO 6. Phone: 5. 73- 7. 51- 4. E- mail: dedfin@ded.

Program Description: The Enhanced Enterprise Zone Program is a discretionary program offering state tax credits, accompanied by local real property tax abatement, to Enhanced Business Enterprises. To receive tax credits for any of the years, the facility must create and maintain the minimum: New or expanded business facility – 2 new employees and $1. Replacement business facility – 2 new employees and $1,0. Health insurance at all times, of which at least 5. Eligible investment expenditures include the original cost of machinery, equipment, furniture, fixtures, land and building, and/or eight times the annual rental rate paid for the same. The company must submit the Notice of Intent (NOI), (Application & guidelines, pages 7- 9), and receive the Approval Letter before the start of construction, and/or purchase of machinery and equipment. NOIs will be accepted by DED at any time of the year and will be approved on an individual, case- by- case basis, based on compliance with all program criteria.

Funding Limits: Tax credits will be an amount authorized by DED, based on the state economic benefit, supported by the number of new jobs, wages and new capital investment that the project will create. Tax credits issued under this program are limited to $2. Box 1. 18 Jefferson City, MO  6. Phone: 5. 73- 7. 51- 9. E- mail: dedfin@ded.

Program Description: The Wine and Grape Tax Credit Program assists vineyards and wine producers with the purchase of new equipment and materials by granting a tax credit for a portion of the purchase price. The Missouri Department of Economic Development (DED) will issue a state tax credit to an individual, partnership or corporation in an amount equal to 2. Missouri. Eligible Applicants: An individual or business actively involved in the production of wine or the growing of grapes in the state of Missouri. Application Procedure: An application must be filed with DED. Box 1. 18 Jefferson City, MO 6.

Phone: 5. 73- 7. 51- 4. E- mail: dedfin@ded. Program Description: The program is designed to stimulate business activity in Missouri’s “distressed communities” by providing tax credits to eligible businesses that locate, relocate or expand their business within a distressed community. Eligible Applicants: Businesses that locate, relocate or expand their business within a distressed area or distressed Missouricommunity.

For a list of cities and census block groups that are “distressed communities,” visit DED's web site or call 5. Must have more than 7. Must have fewer than 1. Primarily engaged in manufacturing, biomedical, medical devices, scientific research, animal research, computer software design or development, computer programming (including Internet, web hosting, and other information technology), telecommunications (wireless, wired or other), or a professional firm.

Application Procedure: New or relocating businesses should submit a Pre- Application to DED prior to commencing operations in the distressed community. Businesses applying for the 2. Equipment Tax Credit should submit a Pre- Application for each year that they intend to request tax credits. Applications for tax credits must be submitted to DED prior to February 1. Tax credits will be issued on a first- come, first served basis.

Funding Limit: Program Limit: All credits: $8 million/year. Equipment Tax Credits: $7. Per Business Limit: 4. Income Tax Credit: $1.

Equipment Tax Credits: $7. Quality Jobs Program. Contact. Missouri Department of Economic Development. Division of Business and Community Services Finance Management Team.

West High Street, Room 7. P. O. Box 1. 18 Jefferson City, MO 6. Phone: 5. 73- 7. 51- 4. E- mail:  dedfin@ded. Program Description: Missouri’s Quality Jobs Program facilitates the creation of quality jobs by targeted business projects.

For small and expanding businesses, the benefit of the program is the retention of the state withholding tax of the new jobs. Small and expanding businesses in rural areas must create 2. DED approval. In non- rural areas, the number increases to 4. Eligible Applicants: For- profit and non- profit businesses . The average wage of the new jobs must equal or exceed the county average wage (as published by DED), and the company must offer health insurance and pay at least 5. Missouri. Application Procedure: An application (. Applications may be obtained at www.

DED's approval will: Confirm that the type of project/business is eligible. Establish the date “base employment” is calculated. Reserve the estimated tax credits for the project. Establish the 2- year “deadline” date for the creation of the minimum new jobs to be eligible for the program. Funding Limits: There is no annual cap on the retained withholding taxes. Tax credits issued for the entire program shall not exceed $6. Contact the economic development official in your area to learn more about local incentives your business might qualify to use.

If you need assistance locating the economic development official, visit  http: //www.