135.906. Taxable income of certain entities exempt, when. - Missouri Statutes

Taxable income of certain entities exempt, when.

135.906. All of the Missouri taxable income attributed to a new businessfacility in a rural empowerment zone which is earned by a taxpayerestablishing and operating a new business facility located within a ruralempowerment zone shall be exempt from taxation under chapter 143, RSMo, ifsuch new business facility is responsible for the creation of ten newfull-time jobs in the zone within one year from the date on which the taxabatement begins. All of the Missouri taxable income attributed to arevenue-producing enterprise in a rural empowerment zone which is earned by ataxpayer operating a revenue-producing enterprise located within a ruralempowerment zone and employing nineteen or fewer full-time employees shall beexempt from taxation under chapter 143, RSMo, if such revenue-producingenterprise is responsible for the creation of five new full-time jobs in thezone within one year from the date on which the tax abatement begins. All ofthe Missouri taxable income attributed to a revenue-producing enterprise in arural empowerment zone which is earned by a taxpayer operating arevenue-producing enterprise located within a rural empowerment zone andemploying twenty or more full-time employees shall be exempt from taxationunder chapter 143, RSMo, if such revenue-producing enterprise is responsiblefor the creation of a number of new full-time jobs in the zone equal totwenty-five percent of the number of full-time employees employed by therevenue-producing enterprise on the date on which tax abatement begins withinone year from the date on which the tax abatement begins.

(L. 2004 S.B. 1155 § 135.910)

Expires 8-28-14