reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.363 - Sale, assignment, transfer of tax credits allowed, when — statement required, submission to director — rules.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1994
135.363. Sale, assignment, transfer of tax credits allowed, when — statement required, submission to director — rules. —
1. All or any portion of tax credits issued in accordance with the provisions of sections 135.350 to 135.363 may be transferred, sold or assigned to parties who are eligible under the provisions of subsection 1 of section 135.352.
2. Beginning January 1, 1995, for qualified projects which began on or after January 1, 1994, an owner or transferee desiring to make a transfer, sale or assignment as described in subsection 1 of this section shall submit to the director of the department of revenue a statement which describes the amount of credit for which such transfer, sale or assignment of credit is eligible. The owner shall provide to the director of revenue appropriate information so that the low-income housing tax credit can be properly allocated.
3. In the event that recapture of Missouri low-income housing tax credits is required pursuant to subsection 2 of section 135.355, any statement submitted to the director of the department of revenue as provided in this section shall include the proportion of the state credit required to be recaptured, the identity of each transferee subject to recapture and the amount of credit previously transferred to such transferee.
4. The director of the department of revenue may prescribe rules and regulations necessary for the administration of the provisions of this section.
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(L. 1994 H.B. 1248 & 1048)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.401 - Community development fund, creation, administration by department of economic development, expenditures.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1997, see footnote
135.401. Community development fund, creation, administration by department of economic development, expenditures. —
There is hereby created in the state treasury a revolving fund to be administered by the department of economic development to be known as the "Community Development Fund". The fund shall consist of all moneys which may be appropriated to it by the general assembly, gifts, contributions, grants or bequests received from federal, private or other sources. Moneys in the fund shall be used for the programs and activities implemented by community development corporations to stimulate economic development in neighborhoods or communities. Notwithstanding the provisions of section 33.080, money in the fund at the end of any biennium shall not be transferred to the general revenue fund.
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(L. 1996 H.B. 1237)
Effective 1-01-97
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.405 - Total tax credit minimum — maximum — not to limit other investments.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1999, see footnote
135.405. Total tax credit minimum — maximum — not to limit other investments. —
The total amount of tax credit evidenced by certificates of tax credit issued to or owned, directly or indirectly, by a single taxpayer authorized by the department who has invested in a Missouri small business shall be not less than one thousand five hundred dollars nor more than an aggregate of one hundred thousand dollars in any one business, except that this section shall not be interpreted to limit other investment. These limits shall not apply to investments in community banks or community development corporations or to investments in Missouri small businesses in distressed communities, as defined in section 135.530.
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(L. 1992 S.B. 661 & 620 § 9 subsec. 3, A.L. 1994 H.B. 1547 & 961, A.L. 1996 H.B. 1237, A.L. 1997 2d Ex. Sess. S.B. 1, A.L. 1998 H.B. 1656)
Effective 1-01-99
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.408 - Qualified investment in a small business, requirements — to be eligible for tax credit — required purposes for investments.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1994
135.408. Qualified investment in a small business, requirements — to be eligible for tax credit — required purposes for investments. —
A qualified investment in a Missouri small business may be made either through an unsecured loan or the purchase of equity or unsecured debt securities of such business. Investors in a small business qualifying for tax credits under the provisions of sections 135.400 to 135.430, however, must collectively own less than fifty percent of a business after their investments are made. Qualified investments in a Missouri small business must be expended for capital improvements, plant, equipment, research and development, or working capital for the business or such business activity as may be approved by the department.
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(L. 1992 S.B. 661 & 620 § 9 subsec. 4, A.L. 1994 H.B. 1547 & 961)
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, 135.800 to 135.830
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.411 - Investment to remain in business for five years — failure to comply, repayment of tax credit.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1994
135.411. Investment to remain in business for five years — failure to comply, repayment of tax credit. —
The amount of the qualified investment made in a Missouri small business must remain in that business for a minimum of five years. Withdrawal of the investment prior to the minimum five-year period shall result in revocation of the tax credit, and repayment of any amounts of the tax credit already applied against the investor's state tax liability.
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(L. 1992 S.B. 661 & 620 § 9 subsec. 5, A.L. 1994 H.B. 1248 & 1048)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.414 - Requirements for business to be eligible for tax credit investments — ineligible persons or entities.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1996, see footnote
135.414. Requirements for business to be eligible for tax credit investments — ineligible persons or entities. —
The business receiving the investment must have annual revenues of two million dollars or less determined as of the end of the most recent fiscal year and the operation of the business must be the full-time professional activity of the principal owner or owners, except full-time researchers or faculty members at public or private universities. The following persons or entities shall not be eligible for a credit against state tax liability under the provisions of sections 135.400 to 135.430:
(1) The principal owner;
(2) The spouse of the principal owner;
(3) Any person related to the person specified in subdivision (1) or (2) of this section within the third degree of consanguinity or affinity; or
(4) Any corporation, partnership, trust or other entity which is controlled, directly or indirectly, by any of the persons specified in subdivision (1), (2) or (3) of this section where fifty percent or more of the equity interest in any such entity is owned, directly or indirectly, by any of the persons specified in subdivision (1), (2) or (3) of this section.
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(L. 1992 S.B. 661 & 620 § 9 subsec. 6, A.L. 1994 H.B. 1547 & 961, A.L. 1995 H.B. 414)
Effective 1-01-96
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.416 - Investment percentage required to be spent in Missouri.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1994
135.416. Investment percentage required to be spent in Missouri. —
All investments in Missouri small businesses for which tax credits are claimed under the provisions of sections 135.400 to 135.430 shall satisfy the conditions of being registered or specifically exempt from registration by provisions or regulations under chapter 409 that require a certain percentage of the investment to be used in Missouri.
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(L. 1992 S.B. 661 & 620 § 10, A.L. 1994 H.B. 1547 & 961)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.420 - Director of department of economic development, duties, certificate of tax credit — procedure to request.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1993, see footnote
135.420. Director of department of economic development, duties, certificate of tax credit — procedure to request. —
The director shall be responsible for the administration and issuance of the certificates of tax credits authorized by sections 135.400 to 135.429. The director shall issue a certificate of tax credit at the request of any qualified investor. Each request shall include a true copy of the documents as defined by the administrative rules of the department. Each request shall be acknowledged under oath by the investor making the request for tax credits.
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(L. 1992 S.B. 661 & 620 § 11)
Effective 1-01-93
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.423 - Revocation of tax credit, grounds for — procedures.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1993, see footnote
135.423. Revocation of tax credit, grounds for — procedures. —
The department may revoke a tax credit certificate if any representation to the department in connection with the application proves to have been false when made or if the application violates any conditions established by the department and stated in the tax credit certificate. The revocation may be in full or in part as the department may determine. The department shall specify the amount of credit being revoked and shall send notice of the revocation to the investor and to the state department of revenue.
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(L. 1992 S.B. 661 & 620 § 12)
Effective 1-01-93
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.426 - Unused balance of tax credit — director to issue a new certificate for unused balance.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1993, see footnote
135.426. Unused balance of tax credit — director to issue a new certificate for unused balance. —
The Missouri department of revenue or secretary of state, whichever is applicable, shall accept a certificate of tax credit in lieu of other payment in such amount as is equal to the lesser of the amount of the tax or the remaining unused amount of the credit as indicated on the certificate of tax credit; and shall indicate on the certificate of tax credit the amount of tax thereby paid, the date of such payment, and the remainder of the unused credit available to the taxpayer after such payment. The certificate of the credit shall be returned to the director of the department of economic development. The director of the department of economic development shall issue a new certificate to the property owner for any unused balance.
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(L. 1992 S.B. 661 & 620 § 13)
Effective 1-01-93
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.429 - Penalties and procedural matters how determined.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1994
135.429. Penalties and procedural matters how determined. —
Except as otherwise specifically provided in sections 135.400 to 135.430, interest and penalty provisions and procedural matters under the provisions of sections 135.400 to 135.430 shall be determined pursuant to and in the manner prescribed in chapter 143, chapter 147, chapter 148, or chapter 153, whichever is applicable.
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(L. 1992 S.B. 661 & 620 §§ 14, E, A.L. 1994 H.B. 1547 & 961)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.430 - Department of social services, rulemaking authority.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1995
135.430. Department of social services, rulemaking authority. —
The department of social services shall promulgate such rules and regulations, pursuant to chapter 536 and section 660.017, as are necessary to define and certify target areas as defined in section 135.400. The department of economic development shall promulgate such rules and regulations, pursuant to chapter 536 and subsection 10
*
of section 620.010 as are necessary to implement the provisions of sections 135.400 to 135.440 after a target area has been defined and certified by the department of social services.
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(L. 1994 H.B. 1547 & 961, A.L. 1995 H.B. 414 and S.B. 445)
*Statutory reference to subsection "20" changed to "10" in accordance with section 3.060 based on renumbering within section 620.010 in H.B. 612, 2019.
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.475 - Rebuilding communities and neighborhood preservation act cited.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 2000, see footnote
135.475. Rebuilding communities and neighborhood preservation act cited. —
Sections 135.475 to 135.487 shall be known and may be cited as the "Rebuilding Communities and Neighborhood Preservation Act".
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(L. 1999 S.B. 20 § 1)
Effective 1-01-00
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.484 - Limitation on available tax credits, allocation of available credits.

Title X TAXATION AND REVENUE
Chapter 135
• 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).
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › 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.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 2000, see footnote
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. —
1. To obtain any credit allowed pursuant to sections 135.475 to 135.487, a taxpayer shall submit to the department, for preliminary approval, an application for tax credit. The director shall, upon final approval of an application and presentation of acceptable proof of substantial completion of construction, issue the taxpayer a certificate of tax credit. The director shall issue all credits allowed pursuant to sections 135.475 to 135.487 in the order the applications are received. In the case of a taxpayer other than an owner-occupant, the director shall not delay the issuance of a tax credit pursuant to sections 135.475 to 135.487 until the sale of a residence at market rate for owner-occupancy. A taxpayer, taxpayer other than an owner-occupant who receives a certificate of tax credit pursuant to sections 135.475 to 135.487 shall, within thirty days of the date of the sale of a residence, furnish to the director satisfactory proof that such residence was sold at market rate for owner-occupancy. If the director reasonably determines that a residence was not in good faith intended for long-term owner occupancy, the director make revoke any tax credits issued and seek recovery of any tax credits issued pursuant to section 620.017.
2. The department may cooperate with a municipality or a county in which a project is located to help identify the location of the project, the type and eligibility of the project, the estimated cost of the project and the completion date of the project.
3. The department may promulgate such rules or regulations or issue administrative guidelines as are necessary to administer the provisions of sections 135.475 to 135.487. No rule or portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to the provisions of chapter 536.
4. The department shall conduct annually a comprehensive program evaluation illustrating where the tax credits allowed pursuant to sections 135.475 to 135.487 are being utilized, explaining the economic impact of such program and making recommendations on appropriate program modifications to ensure the program's success.
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(L. 1999 S.B. 20 § 5)
Effective 1-01-00
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, 135.800 to 135.830
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › 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.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2001
135.490. Eligible small business to receive tax credit for efforts to comply with Americans With Disabilities Act, amount — joint administration of tax credit. —
1. In order to encourage and foster community improvement, an eligible small business, as defined in Section 44 of the Internal Revenue Code, shall be allowed a credit not to exceed five thousand dollars against the tax otherwise due pursuant to chapter 143, not including sections 143.191 to 143.265, in an amount equal to fifty percent of all eligible access expenditures exceeding the monetary cap provided by Section 44 of the Internal Revenue Code. For purposes of this section,
"eligible access expenditures"
means amounts paid or incurred by the taxpayer in order to comply with applicable access requirements provided by the Americans With Disabilities Act of 1990, as further defined in Section 44 of the Internal Revenue Code and federal rulings interpreting Section 44 of the Internal Revenue Code.
2. The tax credit allowed by this section shall be claimed by the taxpayer at the time such taxpayer files a return. Any amount of tax credit which exceeds the tax due shall be carried over to any subsequent taxable year, but shall not be refunded and shall not be transferable.
3. The director of the department of economic development and the director of the department of revenue shall jointly administer the tax credit authorized by this section. Both the director of the department of economic development and the director of the department of revenue are authorized to promulgate rules and regulations necessary to administer the provisions of this section. No rule or portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to the provisions of chapter 536.
4. The provisions of this section shall become effective on January 1, 2000, and shall apply to all taxable years beginning after December 31, 1999.
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(L. 1999 H.B. 516 § 1 merged with S.B. 20 § 6, A.L. 2001 H.B. 590)
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements 135.800 to 135.830
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.505 - Funding period.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1997, see footnote
135.505. Funding period. —
A Missouri certified capital company shall have a funding period of one year from the date of receiving certification from the director. All investments in the Missouri certified capital company shall be made within such three hundred sixty-five-day funding period.
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(L. 1996 H.B. 1237)
Effective 1-01-97
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.517 - Qualified investments, requirements.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2003
135.517. Qualified investments, requirements. —
In order for investments of a qualifying investing entity to be counted as qualified investments pursuant to sections 135.500 to 135.529, each such investment of a qualifying investing entity must have received prior approval from the department.
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(L. 2003 H.B. 289)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.523 - Certification revocation, application misrepresentations.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1997, see footnote
135.523. Certification revocation, application misrepresentations. —
The department may revoke the certification of a Missouri certified capital company if any material representation to the department in connection with the application process proves to have been falsely made or if the application materially violates any requirement established by the department pursuant to sections 135.500 to 135.529.
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(L. 1996 H.B. 1237)
Effective 1-01-97
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.526 - Registration of investments.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1997, see footnote
135.526. Registration of investments. —
All investments for which tax credits are claimed under the provisions of sections 135.500 to 135.529 shall satisfy the conditions of being registered or specifically exempt from registration by provisions or regulations under chapter 409.
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(L. 1996 H.B. 1237)
Effective 1-1-97
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.529 - Sale or transfer of credit — rulemaking authority — administrative review.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Jan 1997, see footnote
135.529. Sale or transfer of credit — rulemaking authority — administrative review. —
1. The tax credit established pursuant to sections 135.500 to 135.529 may be sold or transferred in accordance with regulations adopted by the department. Any such sale or transfer shall not affect the time schedule for taking the tax credit, as provided in sections 135.500 to 135.529. Any premium tax credits recaptured pursuant to section 135.520 shall be the liability of the taxpayer which actually claimed the credit. In approving the sale or transfer of the credit pursuant to this section, the department may require the transferor or the transferee or both the transferor and the transferee to execute guarantees or post bonds with respect to any potential credit recapture.
2. No rule or portion of a rule promulgated under the authority of sections 135.500 to 135.529 shall become effective unless it has been promulgated pursuant to the provisions of chapter 536. The department shall make and promulgate emergency rules and regulations consistent with the provisions of sections 135.500 to 135.529 as are necessary or useful to carry out the provisions of sections 135.500 to 135.529, pursuant to section 536.025.
3. Every final order, decision, license or other official act of the director pursuant to sections 135.500 to 135.529 is subject to administrative review in accordance with chapter 621.
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(L. 1996 H.B. 1237)
Effective 1-01-97
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.530 - Distressed community defined.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 01 Apr 2011, 2 histories, see footnote
135.530. Distressed community defined. —
For the purposes of sections 100.010, 100.710, 100.850, 135.110, 135.200, 135.258, 135.313, 135.403, 135.405, 135.503, 135.530, 135.545, 215.030, 348.300, 348.302, and 620.1400 to 620.1460
*
,
"distressed community"
means either a Missouri municipality within a metropolitan statistical area which has a median household income of under seventy percent of the median household income for the metropolitan statistical area, according to the United States Census Bureau's American Community Survey, based on the most recent of five-year period estimate data in which the final year of the estimate ends in either zero or five, or a United States census block group or contiguous group of block groups within a metropolitan statistical area which has a population of at least two thousand five hundred, and each block group having a median household income of under seventy percent of the median household income for the metropolitan area in Missouri, according to the United States Census Bureau's American Community Survey, based on the most recent of five-year period estimate data in which the final year of the estimate ends in either zero or five. In addition the definition shall include municipalities not in a metropolitan statistical area, with a median household income of under seventy percent of the median household income for the nonmetropolitan areas in Missouri according to the United States Census Bureau's American Community Survey, based on the most recent of five-year period estimate data in which the final year of the estimate ends in either zero or five or a census block group or contiguous group of block groups which has a population of at least two thousand five hundred with each block group having a median household income of under seventy percent of the median household income for the nonmetropolitan areas of Missouri, according to the United States Census Bureau's American Community Survey, based on the most recent of five-year period estimate data in which the final year of the estimate ends in either zero or five. In metropolitan statistical areas, the definition shall include areas that were designated as either a federal empowerment zone; or a federal enhanced enterprise community; or a state enterprise zone that was originally designated before January 1, 1986, but shall not include expansions of such state enterprise zones done after March 16, 1988.
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(L. 1998 H.B. 1656, A.L. 1999 S.B. 20, A.L. 2004 S.B. 1155, A.L. 2010 H.B. 1965)
Effective 4-01-11, see § 135.204
*Sections 620.1400 to 620.1460 were repealed by S.B. 1155, 2004.
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › 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.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Nov 2007, see footnote
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. —
A taxpayer shall be allowed a credit for taxes paid pursuant to chapter 143, 147 or 148 in an amount equal to fifty percent of a qualified investment in transportation development for aviation, mass transportation, including parking facilities for users of mass transportation, railroads, ports, including parking facilities and limited access roads within ports, waterborne transportation, bicycle and pedestrian paths, or rolling stock located in a distressed community as defined in section 135.530, and which are part of a development plan approved by the appropriate local agency. If the department of economic development determines the investment has been so approved, the department shall grant the tax credit in order of date received. A taxpayer may carry forward any unused tax credit for up to ten years and may carry it back for the previous three years until such credit has been fully claimed. Certificates of tax credit issued in accordance with this section may be transferred, sold or assigned by notarized endorsement which names the transferee. The tax credits allowed pursuant to this section shall be for an amount of no more than ten million dollars for each year. This credit shall apply to returns filed for all taxable years beginning on or after January 1, 1999. Any unused portion of the tax credit authorized pursuant to this section shall be available for use in the future by those entities until fully claimed. For purposes of this section, a
"taxpayer"
shall include any charitable organization that is exempt from federal income tax and whose Missouri unrelated business taxable income, if any, would be subject to the state income tax imposed under chapter 143.
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(L. 1998 H.B. 1656, A.L. 2007 1st Ex. Sess H.B. 1)
Effective 11-28-07
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, 135.800 to 135.830
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.546 - Tax credits for investing in the transportation development of a distressed community prohibited, when.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2004
135.546. Tax credits for investing in the transportation development of a distressed community prohibited, when. —
For all tax years beginning on or after January 1, 2005, no tax credits shall be approved, awarded, or issued to any person or entity claiming any tax credit under section 135.545; if an organization has been allocated credits for contribution-based credits prior to January 1, 2005, the organization may issue such credits prior to January 1, 2007, for qualified contributions.
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(L. 2004 S.B. 1155)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.682 - Letter rulings to be issued, procedure — letter rulings closed records.

Title X TAXATION AND REVENUE
Chapter 135
Effective - 28 Aug 2008
135.682. Letter rulings to be issued, procedure — letter rulings closed records. —
1. The director of the department of economic development or the director's designee shall issue letter rulings regarding the tax credit program authorized under section 135.680, subject to the terms and conditions set forth in this section. The director of the department of economic development may impose additional terms and conditions consistent with this section to requests for letter rulings by regulation promulgated under chapter 536. For the purposes of this section, the term
"letter ruling"
means a written interpretation of law to a specific set of facts provided by the applicant requesting a letter ruling.
2. The director or director's designee shall respond to a request for a letter ruling within sixty days of receipt of such request. The applicant may provide a draft letter ruling for the department's consideration. The applicant may withdraw the request for a letter ruling, in writing, prior to the issuance of the letter ruling. The director or the director's designee may refuse to issue a letter ruling for good cause, but must list the specific reasons for refusing to issue the letter ruling. Good cause includes, but is not limited to:
(1) The applicant requests the director to determine whether a statute is constitutional or a regulation is lawful;
(2) The request involves a hypothetical situation or alternative plans;
(3) The facts or issues presented in the request are unclear, overbroad, insufficient, or otherwise inappropriate as a basis upon which to issue a letter ruling; and
(4) The issue is currently being considered in a rulemaking procedure, contested case, or other agency or judicial proceeding that may definitely resolve the issue.
3. Letter rulings shall bind the director and the director's agents and their successors until such time as the taxpayer or its shareholders, members, or partners, as applicable, claim all of such tax credits on a Missouri tax return, subject to the terms and conditions set forth in properly published regulations. The letter ruling shall apply only to the applicant.
4. Letter rulings issued under the authority of this section shall not be a rule as defined in section 536.010 in that it is an interpretation issued by the department with respect to a specific set of facts and intended to apply only to that specific set of facts, and therefore shall not be subject to the rulemaking requirements of chapter 536.
5. Information in letter ruling requests as described in section 620.014 shall be closed to the public. Copies of letter rulings shall be available to the public provided that the applicant identifying information and otherwise protected information is redacted from the letter ruling as provided in subsection 1 of section 610.024.
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(L. 2008 H.B. 2058 merged with S.B. 718)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.700 - Tax credit for grape and wine producers.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 1998
135.700. Tax credit for grape and wine producers. —
For all tax years beginning on or after January 1, 1999, a grape grower or wine producer shall be allowed a tax credit against the state tax liability incurred pursuant to chapter 143, exclusive of the provisions relating to the withholding of tax as provided in sections 143.191 to 143.265, in an amount equal to twenty-five percent of the purchase price of all new equipment and materials used directly in the growing of grapes or the production of wine in the state. Each grower or producer shall apply to the department of economic development and specify the total amount of such new equipment and materials purchased during the calendar year. The department of economic development shall certify to the department of revenue the amount of such tax credit to which a grape grower or wine producer is entitled pursuant to this section. The provisions of this section notwithstanding, a grower or producer may only apply for and receive the credit authorized by this section for five tax periods.
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(L. 1998 S.B. 827 § 3)
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, 135.800 to 135.830
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.712 - Citation of law — definitions.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2021
135.712. Citation of law — definitions. —
1. Sections 135.712 to 135.719 and sections 166.700 to 166.720 establish the "Missouri Empowerment Scholarship Accounts Program" to provide options toward ensuring the education of students in this state.
2. As used in sections 135.712 to 135.719, the following terms mean:
(1)
"Educational assistance organization"
, a charitable organization registered in this state that is exempt from federal taxation under the Internal Revenue Code of 1986, as amended, that is certified by the state treasurer, and that allocates all of its annual revenue for educational assistance, except as provided in paragraph (c) of subdivision (4) of subsection 1 of section 135.714 and as provided in sections 135.712 to 135.719, derived from contributions for which a credit is claimed under sections 135.712 to 135.719;
(2)
"Parent"
, a parent, guardian, custodian, or other person with authority to act on behalf of the qualified student;
(3)
"Program"
, the Missouri empowerment scholarship accounts program established under sections 135.712 to 135.719 and sections 166.700 to 166.720;
(4)
"Qualified student"
, the same meaning as used in section 166.700;
(5)
"Qualifying contribution"
, a donation of cash, stocks, bonds, or other marketable securities for purposes of claiming a tax credit under sections 135.712 to 135.719;
(6)
"Scholarship account"
, a savings account created by the Missouri empowerment scholarship accounts program;
(7)
"Taxpayer"
, any of the following that files a Missouri income tax return and is not a dependent of any other taxpayer:
(a) An individual subject to the state income tax imposed by chapter 143;
(b) An individual, firm, partner in a firm, corporation, or shareholder in an S corporation doing business in this state and subject to the state income tax imposed by chapter 143; or
(c) An express company that pays an annual tax on its gross receipts in this state under chapter 153.
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(L. 2021 H.B. 349)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.719 - Rulemaking authority.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2021
135.719. Rulemaking authority. —
1. The state treasurer and the department of revenue may promulgate rules to implement the provisions of sections 135.712 to 135.719. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2021, shall be invalid and void.
2. The provisions of section 23.253 of the Missouri sunset act shall not apply to sections 135.712 to 135.719.
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(L. 2021 H.B. 349)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.766 - Tax credit for guaranty fee paid by small businesses, when.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2009, 3 histories
135.766. Tax credit for guaranty fee paid by small businesses, when. —
An eligible small business, as defined in Section 44 of the Internal Revenue Code, shall be allowed a credit against the tax otherwise due pursuant to chapter 143, not including sections 143.191 to 143.265, in an amount equal to any amount paid by the eligible small business to the United States Small Business Administration as a guaranty fee pursuant to obtaining Small Business Administration guaranteed financing and to programs administered by the United States Department of Agriculture for rural development or farm service agencies. No tax credits provided under this section shall be authorized on or after the thirtieth day following the effective date of this act
*
. The provisions of this subsection shall not be construed to limit or in any way impair the department's ability to issue tax credits authorized prior to the thirtieth day following the effective date of this act
*
, or a taxpayer's ability to redeem such tax credits.
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(L. 1999 H.B. 139 § 4, Repealed L. 2000 S.B. 894 § A, L. 2004 H.B. 1603, A.L. 2009 H.B. 191)
*"This act" (H.B. 191, 2009) contained multiple effective dates.
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.803 - Ineligibility based on conflict of interest, when.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2008
135.803. Ineligibility based on conflict of interest, when. —
A taxpayer shall not be deemed ineligible for any state tax credit program in effect or hereinafter established on the basis that there exists a conflict of interest due to a relationship of any degree or affinity to any statewide elected official or member of the general assembly, when the person of relation holds less than a two percent equity interest in the taxpayer.
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(L. 2008 H.B. 2058)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.815 - Verification of applicant's tax payment status, when, effect of delinquency — employment of unauthorized aliens, effect of.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2022, 3 histories
135.815. Verification of applicant's tax payment status, when, effect of delinquency — employment of unauthorized aliens, effect of. —
1. Prior to authorization of any tax credit application, an administering agency shall verify through the department of revenue that the tax credit applicant does not owe any delinquent income, sales, or use taxes, or interest, additions, or penalties on such taxes, and through the department of commerce and insurance that the applicant does not owe any delinquent insurance taxes. Such delinquency shall not affect the authorization of the application for such tax credits, except that the amount of credits issued shall be reduced by the applicant's tax delinquency. If the department of revenue or the department of commerce and insurance concludes that a taxpayer is delinquent after June fifteenth but before July first of any year, and the application of tax credits to such delinquency causes a tax deficiency on behalf of the taxpayer to arise, then the taxpayer shall be granted thirty days to satisfy the deficiency in which interest, penalties, and additions to tax shall be tolled. After applying all available credits towards a tax delinquency, the administering agency shall notify the appropriate department, and that department shall update the amount of outstanding delinquent tax owed by the applicant. If any credits remain after satisfying all insurance, income, sales, and use tax delinquencies, the remaining credits shall be issued to the applicant, subject to the restrictions of other provisions of law.
2. Any applicant of a tax credit program who knowingly employs unauthorized aliens shall forfeit any tax credits issued to such applicant which have not been redeemed, and shall repay the amount of any tax credits redeemed by such applicant during the period of time such unauthorized alien was employed by the applicant. Such forfeiture and repayment shall be additional to, and not in lieu of, any penalties imposed pursuant to section 135.810. As used in this subsection, the term
"unauthorized alien"
shall mean an alien who does not have the legal right or authorization under federal law to work in the United States, as defined under Section 8 U.S.C. 1324a(h)(3). The amount of tax credits required to be repaid under this subsection, but which are not repaid by the applicant, shall be subject to the same procedure and provisions of law as a liability for unpaid income tax arising on the date that the department of revenue became aware of the violation of this provision.
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(L. 2004 S.B. 1099, A.L. 2008 H.B. 2058 merged with S.B. 718, A.L. 2022 H.B. 2400)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.825 - Tracking system for tax credits required — exception — rulemaking authority.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2022, 2 histories
135.825. Tracking system for tax credits required — exception — rulemaking authority. —
1. The administering agencies for all tax credit programs shall, in cooperation with the department of revenue and the department of economic development, implement a system for tracking the amount of tax credits authorized, issued, and redeemed. Any such agency may promulgate rules for the implementation of this section.
2. The provisions of this section shall not apply to any credit that is issued and redeemed simultaneously.
3. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2004, shall be invalid and void.
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(L. 2004 S.B. 1099, A.L. 2022 H.B. 2400)
2023 Missouri Revised Statutes › Title X - Taxation and Revenue › Chapter 135 - Tax Relief › Section 135.830 - Tax credit accountability act of 2004 to be in addition to existing tax laws.

Title X TAXATION AND REVENUE
Chapter 135
• Effective - 28 Aug 2004
135.830. Tax credit accountability act of 2004 to be in addition to existing tax laws. —
The provisions of sections 135.800 to 135.830 shall be construed, wherever necessary, to be in addition to existing requirements, duties, or obligations present in other provisions of law, with regard to all tax credit programs.
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(L. 2004 S.B. 1099)