Missouri Revised Statutes
Chapter 135 - Tax Relief
Section 135.484 - Limitation on available tax credits, allocation of available credits.

Effective - 28 Aug 2000
135.484. Limitation on available tax credits, allocation of available credits. — 1. Beginning January 1, 2000, tax credits shall be allowed pursuant to section 135.481 in an amount not to exceed sixteen million dollars per year. Of this total amount of tax credits in any given year, eight million dollars shall be set aside for projects in areas described in subdivision (6) of section 135.478 and eight million dollars for projects in areas described in subdivision (10) of section 135.478. The maximum tax credit for a project consisting of multiple-unit qualifying residences in a distressed community shall not exceed three million dollars.
2. Any amount of credit which exceeds the tax liability of a taxpayer for the tax year in which the credit is first claimed may be carried back to any of the taxpayer's three prior tax years and carried forward to any of the taxpayer's five subsequent tax years. A certificate of tax credit issued to a taxpayer by the department may be assigned, transferred, sold or otherwise conveyed. Whenever a certificate of tax credit is assigned, transferred, sold or otherwise conveyed, a notarized endorsement shall be filed with the department specifying the name and address of the new owner of the tax credit and the value of the credit.
3. The tax credits allowed pursuant to sections 135.475 to 135.487 may not be claimed in addition to any other state tax credits, with the exception of the historic structures rehabilitation tax credit authorized pursuant to sections 253.545 to 253.559, which insofar as sections 135.475 to 135.487 are concerned may be claimed only in conjunction with the tax credit allowed pursuant to subsection 4 of section 135.481. In order for a taxpayer eligible for the historic structures rehabilitation tax credit to claim the tax credit allowed pursuant to subsection 4 of section 135.481, the taxpayer must comply with the requirements of sections 253.545 to 253.559, and in such cases, the amount of the tax credit pursuant to subsection 4 of section 135.481 shall be limited to the lesser of twenty percent of the taxpayer's eligible costs or forty thousand dollars.
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(L. 1999 S.B. 20 § 4, A.L. 2000 S.B. 894)
(2002) Senate Bill 894 provision declared unconstitutional as a violation of the clear title requirement of Art. III, Section 23. Home Builders of Greater St. Louis v. State, 75 S.W.3d 267 (Mo.banc).

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title X - Taxation and Revenue

Chapter 135 - Tax Relief

Section 135.010 - Definitions.

Section 135.015 - Time for filing and other procedural matters, how governed.

Section 135.020 - Credits, how applied, considered overpayment, when.

Section 135.025 - Accrued taxes and rent constituting taxes to be totaled — maximum amount allowable — allocation regulations, when.

Section 135.030 - Formula for determining credits — table to be prepared by director of revenue — taxpayer not applying for credit to be notified of eligibility.

Section 135.035 - Claims for calendar year 1975 and later affected.

Section 135.090 - Income tax credit for surviving spouses of public safety officers — sunset provision.

Section 135.096 - Long-term care insurance tax deduction, amount.

Section 135.100 - Definitions.

Section 135.110 - Tax credit for new or expanded business facility — computation — maximum years and amount allowed — no credit allowed a public utility and certain businesses — definitions.

Section 135.115 - Vesting of tax credits, when — waiver, applicable when.

Section 135.120 - Deferment of tax credit — election — notice.

Section 135.130 - Transfer of business facility, all or part — apportionment of tax credit — estate of taxpayer entitled to credit and distributee of estate also entitled to credit.

Section 135.140 - Termination and resumption of operation of business — consent of director required for claim of credit.

Section 135.150 - Rules, promulgation duties — certification of applications for tax credit — application requesting credit granted when — denial, protest procedure — review by administrative hearing commission authorized.

Section 135.155 - Prohibition on certain enterprises receiving certain incentives — expansion deemed new business facility — certain properties considered one facility, when.

Section 135.200 - Definitions.

Section 135.204 - Contingent effective date for certain sections.

Section 135.205 - Requirements to qualify as enterprise zone.

Section 135.206 - Counties, certain third class counties to have one enterprise zone designated, requirements.

Section 135.207 - Satellite zones may be established in certain cities or villages, requirements.

Section 135.208 - Additional enterprise zones to be designated, certain third class counties, Independence, Camden County, Randolph County, Ste. Genevieve County, Jefferson County, the city of Ava, the city of Portageville, the city of Lamar, require...

Section 135.209 - Satellite enterprise zone may be established, city of Independence.

Section 135.210 - Designation as enterprise zone, procedure — maximum number, exceptions — report required from all zones — cancellation of zone, procedure.

Section 135.212 - Additional enterprise zones to be designated — certain zones not to expire before certain date (Linn, Macon counties).

Section 135.215 - Real property improvements exemption from assessment and ad valorem taxes — procedure — maximum period granted — abatement or exemption ceases, when.

Section 135.220 - Income earned by business, revenue producing enterprise, in zone, residential units, exemption, how computed.

Section 135.225 - Tax credit for new or expanded business facility, requirements — definitions — apportionment of credits — period for which tax credit granted — election to forfeit and claim tax credit under section 135.110 — vesting of credits and...

Section 135.230 - Tax credits and exemptions, maximum period granted — calculation formula — employee requirements, waived or reduced, when — motor carrier, tax credits, conditions — expansion of boundaries of enterprise zone — petition for additiona...

Section 135.235 - Tax credit for expense of training employees — small corporations and partnerships.

Section 135.240 - Employees for which employer may claim training credit.

Section 135.245 - Income tax refund limited to taxpayer establishing new facility in enterprise zone — refund if tax credits earned exceed tax liability, when, limitations.

Section 135.247 - Federal empowerment, enterprise community deemed state enterprise zone — credits, exemption, refund — retail businesses eligible for benefits.

Section 135.250 - Rules authorized, procedure.

Section 135.255 - Displaced enterprise zone resident assistance, when, limitations.

Section 135.256 - Enterprise zone to be established in certain cities (Rolla).

Section 135.257 - Enterprise zone to be established in city not within a county (St. Louis).

Section 135.258 - Letter of intent required, when.

Section 135.259 - Enterprise zone designated for a certain county (Wright County)

Section 135.260 - Enterprise zone designated for a certain city (Carl Junction)

Section 135.262 - Any area meeting enterprise zone requirements shall be designated as such.

Section 135.270 - Strategic initiative investment income tax refund, automobile manufacturers or assemblers.

Section 135.276 - Definitions.

Section 135.277 - Taxable income of retained business facility exempt from income taxation, amount.

Section 135.279 - Tax credit, amount (Hazelwood Ford Plant) — calculation and limitations on credit.

Section 135.281 - Application for income tax refund (Hazelwood Ford Plant) — approval procedures.

Section 135.283 - Program application — approval by department — executed agreement required, contents.

Section 135.284 - Contingent expiration of certain sections.

Section 135.286 - Revenue-producing enterprises not eligible for certain tax benefits — time period of exemptions.

Section 135.300 - Definitions.

Section 135.305 - Eligibility — amount of tax credit.

Section 135.307 - Credit exceeding tax, not refunded, effect.

Section 135.309 - Assignment of credit, procedure.

Section 135.311 - Application, content, filed where.

Section 135.313 - Credit for charcoal producers.

Section 135.325 - Title.

Section 135.326 - Definitions.

Section 135.327 - Adoption tax credit — nonrecurring adoption expenses, amount — individual and business entities tax credit, amount, time for filing application — assignment of tax credit, when.

Section 135.329 - Credit not allowed, when.

Section 135.331 - Adopted child eighteen years of age or older, credit not allowed — exception.

Section 135.333 - Credit exceeding tax due or applied for, not refunded — may be carried forward, time limit — effect of assignment, transfer or sale of tax credit.

Section 135.335 - Credit reduced, amount, when.

Section 135.337 - Credit not to be considered for adoption subsidy.

Section 135.339 - Rules authorized, procedure.

Section 135.341 - Definitions — tax credit authorized, amount — application procedure — assignment — rulemaking authority — sunset provision.

Section 135.350 - Definitions.

Section 135.352 - Taxpayer owning interest in qualified project shall be allowed a state tax credit, how determined, cap — carry-back and carry-forward of credit authorized — rules promulgation and procedure.

Section 135.355 - Eligibility statement must be filed with tax return, failure to comply, effect — federal requirement to recapture, state requires to recapture, amount.

Section 135.357 - Capital gain exclusion, when.

Section 135.359 - Rules authorized, procedure.

Section 135.361 - Rules, effective, when — rules invalid and void, when.

Section 135.362 - Eligibility statement, low-income housing credit, not applicable, when.

Section 135.363 - Sale, assignment, transfer of tax credits allowed, when — statement required, submission to director — rules.

Section 135.400 - Definitions.

Section 135.401 - Community development fund, creation, administration by department of economic development, expenditures.

Section 135.403 - Tax credit for qualified investment in Missouri small businesses and qualified investors in community banks or community development corporations — credit evidenced by certificate, limitation of amount of investment eligible for tax...

Section 135.405 - Total tax credit minimum — maximum — not to limit other investments.

Section 135.408 - Qualified investment in a small business, requirements — to be eligible for tax credit — required purposes for investments.

Section 135.411 - Investment to remain in business for five years — failure to comply, repayment of tax credit.

Section 135.414 - Requirements for business to be eligible for tax credit investments — ineligible persons or entities.

Section 135.416 - Investment percentage required to be spent in Missouri.

Section 135.420 - Director of department of economic development, duties, certificate of tax credit — procedure to request.

Section 135.423 - Revocation of tax credit, grounds for — procedures.

Section 135.426 - Unused balance of tax credit — director to issue a new certificate for unused balance.

Section 135.429 - Penalties and procedural matters how determined.

Section 135.430 - Department of social services, rulemaking authority.

Section 135.432 - Rulemaking authority, procedure.

Section 135.460 - Citation of law — tax credit, amount, claim, limitation — allowable programs — report — apportionment of credits — rulemaking authority.

Section 135.475 - Rebuilding communities and neighborhood preservation act cited.

Section 135.478 - Definitions.

Section 135.481 - Taxpayers incurring eligible costs entitled to tax credit, amount, qualifications.

Section 135.484 - Limitation on available tax credits, allocation of available credits.

Section 135.487 - Procedure for application for tax credit — department of economic development may cooperate with political subdivisions to determine eligibility — department to conduct annual program evaluation.

Section 135.490 - Eligible small business to receive tax credit for efforts to comply with Americans With Disabilities Act, amount — joint administration of tax credit.

Section 135.500 - Title of law — definitions.

Section 135.503 - Amount of credit, how calculated, reduction — insurance companies not required to pay retaliatory tax, when — carry forward — limitation on amounts of certified capital, allocation of certified capital — notification of limitation.

Section 135.505 - Funding period.

Section 135.508 - Certification of profit or not-for-profit entities — limitation on insurance companies, management or direction of certified capital company — seventy-five days to issue or refuse certification — responsibility for administration of...

Section 135.516 - Schedule of qualified investments — qualified distributions, when, requirements — qualified investment cost limit — company documents as closed records, when — company report to department of economic development.

Section 135.517 - Qualified investments, requirements.

Section 135.520 - Annual review by division of finance, report of findings — decertification, grounds, notice of noncompliance — notice of decertification, decertification.

Section 135.523 - Certification revocation, application misrepresentations.

Section 135.526 - Registration of investments.

Section 135.529 - Sale or transfer of credit — rulemaking authority — administrative review.

Section 135.530 - Distressed community defined.

Section 135.535 - Tax credit for relocating a business to a distressed community, approval by department of economic development, application — employees eligible to receive credit — credit for expenditures on equipment — transfer of certificate of c...

Section 135.545 - Tax credit for investing in the transportation development of a distressed community — approval of investment by economic development, credit carried forward, transfer of certificate of credit, maximum amount allowed.

Section 135.546 - Tax credits for investing in the transportation development of a distressed community prohibited, when.

Section 135.550 - Definitions — tax credit, amount — limitations — director of social services determinations, classification of shelters and centers — effective date.

Section 135.562 - Principal dwellings, tax credit for renovations for disability access.

Section 135.600 - Definitions — tax credit, amount — limitations — director of social services determinations, classification of maternity homes — effective date.

Section 135.621 - Definitions — tax credit authorized, amount — department duties, procedures — taxpayer identity, diaper banks to provide to department — sunset provision.

Section 135.630 - Tax credit for contributions to pregnancy resource centers, definitions — amount — limitations — determination of qualifying centers — cumulative amount of credits — apportionment procedure, reapportionment of credits — identity of...

Section 135.647 - Donated food tax credit — definitions — amount — procedure to claim the credit — rulemaking authority — sunset provision.

Section 135.679 - Citation — definitions — tax credit, amount, claim procedure — rulemaking authority.

Section 135.680 - Definitions — tax credit, amount — recapture, when — rulemaking authority — reauthorization procedure — sunset provision.

Section 135.682 - Letter rulings to be issued, procedure — letter rulings closed records.

Section 135.686 - Citation — definitions — tax credit, amount, claim procedure — rulemaking authority.

Section 135.690 - Faculty preceptors tax credit — definitions — amount — procedure — fund created, use of moneys — rules.

Section 135.700 - Tax credit for grape and wine producers.

Section 135.710 - Tax credit authorized, procedure — director of revenue duties — rulemaking authority — sunset provision.

Section 135.712 - Citation of law — definitions.

Section 135.713 - Educational assistance organization contribution tax credit — amount, procedure — effective, when.

Section 135.714 - Educational assistance organization duties — annual audit — duties of state treasurer.

Section 135.715 - Tax credit, annual increase to cumulative amount to cease, when — limitation on number of organizations — board established, members, powers and duties — deposit of moneys in fund — definition.

Section 135.716 - Contribution receipts and reports, standardized formats — state treasurer report, contents — fund created, use of moneys.

Section 135.719 - Rulemaking authority.

Section 135.750 - Tax credit for qualified film production projects — definitions — application — cap — transfer of credits — sunset provision.

Section 135.766 - Tax credit for guaranty fee paid by small businesses, when.

Section 135.772 - High ethanol — definitions — seller tax credit amount, claim procedure — rules — sunset provision.

Section 135.775 - Biodiesel blend — definitions — seller tax credit, amount, procedure — rules — sunset provision.

Section 135.778 - Biodiesel producer — definitions — producer tax credit, amount, procedure — rules — sunset provision.

Section 135.800 - Citation — definitions.

Section 135.802 - Information required to be submitted with tax credit applications — certain information required for specific tax credits — rulemaking authority — requirements to apply to certain recipients, when — duties of agencies.

Section 135.803 - Ineligibility based on conflict of interest, when.

Section 135.805 - Certain information to be submitted annually, who, time period — due date of reporting requirements — requirements to apply to certain recipients, when — applicant in compliance, when, written notification, when, records available f...

Section 135.810 - Failure to report, penalties — notice required, when, taxpayer liable for penalties, when — change of address notification required — rulemaking authority.

Section 135.815 - Verification of applicant's tax payment status, when, effect of delinquency — employment of unauthorized aliens, effect of.

Section 135.825 - Tracking system for tax credits required — exception — rulemaking authority.

Section 135.830 - Tax credit accountability act of 2004 to be in addition to existing tax laws.

Section 135.950 - Definitions.

Section 135.953 - Enhanced enterprise zone criteria — zone may be established in certain areas — additional criteria.

Section 135.957 - Enhanced enterprise zone board required, members — terms — board actions — chair — role of board.

Section 135.960 - Public hearing required — ordinance requirements — expiration date — annual report.

Section 135.963 - Improvements exempt, when — authorizing resolution, contents — public hearing required, notice — certain property exempt from ad valorem taxes, duration — time period — property affected — assessor's duties.

Section 135.967 - Tax credit allowed, duration — prohibition on receiving other tax credits — limitations on issuance of tax credits — cap — eligibility of certain expansions — employee calculations — computation of credit — flow-through tax treatmen...

Section 135.968 - Megaprojects, tax credit authorized, eligibility — department duties — binding contract required, when — issuance of credits, procedure.

Section 135.970 - Rulemaking authority.

Section 135.973 - Eligibility of existing enterprise zones.

Section 135.980 - No restriction by ballot permitted for certain businesses with NAIC code — expiration date.

Section 135.1125 - Definitions — tax credit, amount — application — rulemaking authority — sunset provision.

Section 135.1150 - Citation of law — definitions — tax credit, amount — claim application — limitation — transferability of credit — rulemaking authority.

Section 135.1180 - Citation of law — definitions — tax credit, amount, procedure — rulemaking authority.

Section 135.1610 - Urban farm — definitions — tax credit, amount, procedure — rules — sunset provision.

Section 135.1670 - Relocated jobs, eligibility for tax credits and financial incentives — director's duties — expiration date.