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O U P, L T D.
Tax Credit Programs
Click here to learn more about Historic
YOUR COMPANY MAY BE ELIGIBLE FOR SUBSTANTIAL
Eligible businesses may receive either a credit of
40% of state income taxes due
MISSOURI STATE REBUILDING COMMUNITIES TAX CREDITS
(up to a maximum tax credit of $125,000) or 40%
of funds expended for qualified equipment
(up to a maximum tax creditof $75,000), for each
of three years following the commencement of
operations. (Existing businesses only qualify for
a 25% credit on purchases of qualified equipment).
Qualified employees may receive a credit of 1.5%of
their gross salary for each of three years.
The 40% and 25% credits may be used for taxes owed
the previous three years, or in any of the five
tax years thereafter, or may be transferred, sold
or assigned. The 1.5% credit may be carried forward
ELIGIBILITY: A new business
commencing operations in an eligible location (see below), a business
relocating to an eligible location, or a business
that is already existing in an eligible location
(an existing business is only eligible for a 25% credit
for funds expended for qualified equipment).
ELIGIBLE LOCATIONS: In
the St. Louis metropolitan area, eligible municipalities are the entire
of St. Louis, Maplewood and Wellston and sections
of Breckenridge Hills, Ferguson, Jennings, Lemay,
Overland, St. Ann, St. Charles, and St. John. There
are a total of 214 entire and 29 partial eligible
municipalities in Missouri.
ELIGIBLE BUSINESSES: Manufacturing,
biomedical, medical devices, scientific research, animal
research, computer software design or development,
computer programming, telecommunications or
certain professional firms.
75% or more of the businessís employees must be located
at its facility in the eligible location
(prior to receiving credit) and the business must
have fewer than 100 employees at all locations
(at time of Pre Application submission.)
ELIGIBLE EQUIPMENT: Computer
equipment and its maintenance, medical laboratories and
equipment, research laboratory equipment, manufacturing
equipment, fiber optic equipment,
high speed telecommunications, wiring or software
Eric Friedman of the Friedman Group, Ltd. was involved
in getting the Rebuilding Communities Tax Credit
Program and the Historic Tax Credit passed by the
Missouri legislature. Eric is a board member of the
Downtown St. Louis Partnership, Inc. and Chairman
of their Biz Committee program to market this program
to area businesses. The Friedman Development, Ltd.
offers consulting services to clients wanting to take
advantage of this and other Missouri tax credit programs.
information, please contact:
Friedman Group, Ltd. & Friedman
245 Union Boulevard
St. Louis, MO