135.235. Tax credit for expense of training employees--small corporations and partnerships. - Missouri Statutes

Tax credit for expense of training employees--small corporations andpartnerships.

135.235. To the extent that expenses incurred by a newbusiness facility in an enterprise zone for the training ofpersons employed in the operation of the new business facility isnot covered by an existing federal, state or local program, suchnew business facility shall be eligible for a full tax creditequal to eighty percent of that portion of such training expenseswhich are in excess of four hundred dollars for each trainee whois a resident of the enterprise zone or who was at the time ofsuch employment at the new business facility unemployable ordifficult to employ as defined in section 135.240, provided suchcredit shall not exceed four hundred dollars for each employeetrained. In the case of a small corporation described in section143.471, RSMo, or a partnership, all credits allowed by thissection shall be apportioned in proportion to the share ofownership of the business to the following:

(1) The shareholders of the corporation described insection 143.471, RSMo; or

(2) The partners in a partnership.

(L. 1982 H.B. 1713, et al. § 9, A.L. 1986 S.B. 727, A.L. 1991 H.B. 294 & 405)