HB 730 -- Income Tax Credit for Military-Related Compensation

Sponsor:  LeVota

Beginning January 1, 2010, this bill authorizes a refundable
income tax credit to individuals, partnerships, or corporations
for 100% of the salary and benefits paid to any employee while on
active military duty as a member of a reserve or national guard
unit.  The cumulative amount of tax credits is limited to
$500,000 in any fiscal year, and the Department of Revenue will
determine a procedure to equally distribute the tax credits among
the qualifying taxpayers.

The provisions of the bill will expire December 31 six years from
the effective date.

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