HB 1900 -- Small Business Tax Relief

Sponsor:  Dethrow

This bill changes the laws regarding the Big Government Get Off
My Back Act which provides tax relief to small businesses.  In
its main provisions, the bill:

(1)  Specifies that any federal mandate implemented by the state
will be subject to statutory authorization of the General
Assembly;

(2)  Extends from four years to five years the restriction on
increases for user fees and the restriction on the imposition of
new rules;

(3)  Revises the definition of "small business" to include
businesses with fewer than 50 employees; and

(4)  Authorizes, for tax years 2010 to 2013, an income tax
deduction for small businesses that create new full-time jobs
with an annual salary of at least the average annual county wage.
The business will be allowed a deduction of $10,000 for each new
full-time job created; $20,000 per new full-time job if the
business offers health insurance for new employees and pays at
least 50% of the premiums of all full-time employees; or $30,000
per new full-time job if the business is less than five years
old, offers health insurance to new employees, and pays at least
50% of the health insurance premiums of all full-time employees.

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

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