HB 1805 -- Income Tax Credit for Job Creation

Sponsor:  Smith (150)

Beginning January 1, 2011, this bill authorizes an income tax
credit for an employer with one or more creditable employees.
The credit, which can be carried forward for two years, will be
equal to $2,400 for each creditable employee who:

(1)  Is first employed by the employer on or after August 28,
2010;

(2)  Was unemployed for at least 60 days immediately prior to
becoming employed;

(3)  Remains employed by the employer for at least 24 consecutive
months;

(4)  Provides a notarized affidavit swearing that he or she is
eligible to work in the United States according to federal law;
and

(5)  Is paid at least minimum wage the entire time he or she is
employed.

The bill also authorizes an employer with one or more creditable
employees to receive an income tax credit against future
contributions made to the Unemployment Compensation Fund.  The
credit will be $500 per creditable employee who:

(1)  Is first employed by the employer on or after August 28,
2010;

(2)  Was eligible for and receiving unemployment benefits for at
least 60 days immediately prior to becoming employed;

(3)  Remains employed by the employer for at least six months;
and

(4)  Does not receive unemployment benefits while employed.

Beginning July 1, 2010, and ending June 30, 2012, the bill
requires the Secretary of State to waive any filing fees required
by Chapters 347, 351, and 359, RSMo, regarding limited liability
companies, corporations, and limited partnerships.

The bill contains an emergency clause.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:12 pm