No new authorizations may be made for this program. The Enterprise Zone program was replaced by the Enhanced Enterprise Zone (EEZ) program (view a full list of Missouri's EEZs). Enterprise Zone designations are expected to expire as the duration is not to exceed 25 years. Projects with previous authorizations may complete their projects and may still achieve the program benefits subject to the program rules and any terms and conditions of their original award.
Eligible Use of Tax Credits
This tax credit can be applied to:
- Ch. 143 - Income tax, excluding withholding tax
- Ch. 148 - Insurance Premium Tax
- Sec. 375.916 - Insurance Co. Retaliatory Tax
This credit has no special attributes and can only be applied to tax liability for the year it was earned, unless it was issued for a new facility, for which there may be up to a $75,000 refund of state income taxes in the first two years of eligibility.
A company can receive:
- Up to a 50% state income tax exemption
- A $400 credit for each new job
- A $400 credit for each employee who is an enterprise zone resident
- A $400 credit for each employee who was a “difficult to employ” person (receiving welfare or unemployed for a specified period of time)
- Up to $400 credit per employee trained who was a zone resident or “difficult to employ”
- A credit equal to $5,500 for the first $100,000 of new capital investment at the facility and 2% of new capital investment amounts above $100,000 at the facility
- 50% local property tax abatement on improvements