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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionMissouri
Jurisdiction type: State
Fiscal year ending In2019
Program nameBusiness Use Incentives for Large-Scale Development
Program purpose: Infrastructural development
Statutory authority: Sections 100.700-100.850, RSMo.
Abating jurisdiction(s): State of Missouri
Applicable taxesIncome Tax; Bank Tax; Insurance Premium Tax; Other Financial Institutions Tax
Method of abatement: Tax Credit
Provisions for recapture: The Tax Credits become subject to recapture if the company does not expend the minimum investment on or before the first test date established in the program agreement, or create and maintain the minimum number of new jobs on or before the first test date. The first test date is the last day of the closest calendar quarter ending 3 years following bond closing. The Tax Credits are also subject to recapture if the company eliminates or announces its intention to eliminate all the new jobs at the project within 2 years of the first test date. If subject to recapture, the company shall, within 30 days following written demand from the Board, reimburse the Board in full for the face amount of the Tax Credits received from the date of execution of the program agreement to the date of such demand.
Gross revenue loss: $13,776,000
Reimbursement / offset: $0
Net revenue loss: $13,776,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://oa.mo.gov/accounting/reports/annual-reports/annual-comprehensive...