135.140. Termination and resumption of operation of business--consent of director required for claim of credit. - Missouri Statutes

Termination and resumption of operation of business--consent ofdirector required for claim of credit.

135.140. If a taxpayer has terminated the operation of arevenue producing enterprise at a new business facility prior tothe expiration of the ten-year period during which a credit isallowed under sections 135.100 to 135.160, and later resumes theoperation of the same or a different revenue producing enterpriseat such new business facility, the taxpayer may, with the consentof the director of economic development, elect to claim a credit,upon resuming the operation of a revenue producing enterprise atsuch new business facility, computed in accordance with section135.110 but for a number of years following resumption of suchoperations equal to ten reduced by the number of years for whichthe credit was claimed prior to termination of operation of suchrevenue producing enterprise. The director of economicdevelopment shall grant such consent if it is determined that thetermination of operations was due to reasonable cause and thatthe resumption of operations of a revenue producing enterprise atsuch new business facility will provide increased opportunitiesfor employment and result in a substantial contribution to theeconomy of the state.

(L. 1980 S.B. 644 § 5, A.L. 1986 S.B. 727)