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Missouri Legislature weighs business tax breaks

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Missouri Legislature weighs business tax breaks

JEFFERSON CITY, Mo. (AP) – Missouri’s Republican-led Legislature is weighing a number of tax breaks for businesses as the session wraps up. Proposed tax breaks range from a package of small business incentives to an exemption for farmers who raise deer to sell their urine. The small business proposal is close to passage. Businesses with […]

Missouri Legislature weighs business tax breaks

JEFFERSON CITY, Mo. (AP) – Missouri’s Republican-led Legislature is weighing a number of tax breaks for businesses as the session wraps up.

Proposed tax breaks range from a package of small business incentives to an exemption for farmers who raise deer to sell their urine.

The small business proposal is close to passage. Businesses with fewer than 50 employees could claim a $10,000 deduction for each new job paid above the county average wage. Niche industry tax breaks include sales-tax exemptions for instructional classes, which would cover yoga or dance. Farmers who raise captive deer and then sell their urine wouldn’t pay sales taxes for the animals under another measure that’s still awaiting a hearing.

Some of the measures are estimated to cost the state millions of dollars in lost revenue.
Session ends May 13.

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