HB 608 -- Small Business and Entrepreneurial Growth Act

Sponsor:  Schaaf

This bill establishes the Small Business and Entrepreneurial
Growth Act which allows, beginning January 1, 2010, small
business employers who increase their total payroll by increasing
the number of jobs and meeting certain qualifications to retain
the Missouri withholding tax from the salaries of the newly
created jobs for one year.  If the employer pays more than 50% of
the cost of the premiums for health insurance for all employees,
the withholding tax can be retained for two years.  In either
case, wages for the new jobs must equal at least 85% of the
county average wage.  No employer retaining these withholding
taxes will be eligible for benefits under the Quality Jobs Act.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am