Businesses with an existing award of tax credits through the Enhanced Enterprise Zone program seeking to gain access to those benefits should submit the Annual Tax Credit Application to the department no later than the end of the tax year immediately following the tax year for which they are seeking benefits.
New Projects: Businesses interested in locating in one of Missouri's current Enhanced Enterprise Zones can learn more about incentives offered by local municipalities by reaching out directly to the zone authorities. In addition, Missouri's premier incentive program Missouri Works is also available to businesses embarking on new projects within the zones through the Zone Works category.
Exclusively for companies approved for benefits/proposal prior to August 23, 2013.
The EEZ is a discretionary program that offered state tax credits, accompanied by local real property tax abatement, to Enhanced Business Enterprises. Tax credits may be provided each year for up to five tax years after hte project commences operations. To receive tax credits for any of the years, the facility must have created and maintained the minimum:
- New or expanded business facility - 2 new employees and $100,000 new investment;
- Replacement business facility - 2 new employees and $100,000 new investment
- Company must offer health insurance at all times, of which at least 50 percent is paid by the employer, to all full-time employees in Missouri.
Eligible investment expenditures include the original cost of machinery, equipment, furniture, fixtures, land and building, and/or eight times the annual rental rate paid for the same. Inventory is not eligible.
This tax credit can be applied to:
- Ch. 143 - Income tax, excluding withholding tax
Tax credits can only be applied to tax liability for the year in which they were earned. The tax credits are refundable; or may be transferred, sold or assigned. The sale price cannot be less than 75 percent of the par value of such tax credits.
The facility must file the Annual Application for Tax Credits and supporting documents each year for calculation of the facility’s state tax benefits. See page 10 of the application for a list of requirements. The deadline for submitting the Annual Application for Tax Credits is during the tax period immediately after the tax period for which the credits are being requested.
SB 1099 Reporting
The “Tax Credit Accountability Act” reporting form must be returned for this program to DOR by June 30 of each year. Contact (573) 526-8733 (Personal Tax) or (573) 751-4541 (Corporate Tax) with any questions.
Special Program Requirements
Applicants must be eligible for and receive at least ten years’ local real property tax abatement at 50% pursuant to the local enhanced enterprise zone plan.
Projects relocating employees from one Missouri location to another Missouri location must obtain the endorsement of the governing body of the community from which the jobs are being relocated and include this endorsement with the Notice of Intent.
A business cannot earn tax credits under this program if earning Enterprise Zone, Business Facility, Quality Jobs, Rebuilding Communities, or Brownfield Jobs and Investment tax credits for the same project for the same tax period.