HB 2506 -- Tax Credit for AgriMissouri Retailers

Sponsor:  Loehner

Beginning January 1, 2008, this bill authorizes a tax credit for
retailers who provide at least 15 linear feet of shelf space in
the retailer's establishment for AgriMissouri products, excluding
AgriMissouri products distributed by a distributor.  The tax
credit will be equal to 15% of the retailer's gross sales of
AgriMissouri products.  The cumulative amount of tax credits
allocated cannot exceed $1 million in any fiscal year.  The
Director of the Department of Revenue must establish a procedure
by which the cumulative amount of tax credits is apportioned
among all taxpayers claiming the credit by April 15 of the fiscal
year in which the credit is claimed.

AgriMissouri retailers must apply to the Department of
Agriculture to certify to the Department of Revenue the amount of
the tax credit.  The tax credit cannot exceed the amount of the
retailer's state tax liability for the tax year in which the
credit is claimed.  Any unused portion of the tax credit may be
carried forward two years, but cannot be transferred, sold, or
assigned.  A retailer employing persons who are not authorized to
work in the United States is disqualified from receiving a tax
credit.

The Department of Agriculture must submit an annual report by
February 15 to the Governor and General Assembly regarding
statistics on participation by retailers, benefits to
AgriMissouri producers, and recommended improvements for the sale
of AgriMissouri products.

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

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm