Missouri State R&D Tax Credit
Missouri State Enterprise Creation Credit
No Research & Development tax credit currently exists in Missouri. However, there is a new Enterprise Creation Credit. Corporations that make qualified contributions for certain investments can receive a credit against the corporation income tax for the full amount of the contribution.
A “qualified contribution” is a cash contribution to a qualified fund under the terms of a contract between the qualified fund and a qualified economic development organization authorized by the Missouri Technology Corporation (was Seed Capital Investment Board) to enter into such contracts.
How to obtain the credit?
Organizations must be established under Missouri law and approved by the Missouri Technology Corporation in order to be a qualified fund eligible for contributions. The contributor must apply to the Department of Economic Development for the credit. A prescribed form must be used.
Refundable/Transferable Tax Credit – No
Find out if you qualify for the R&D tax credit
SELL YOUR NOL’s AND R&D CREDITS
If your company hasn’t considered the R&D credit in the past because you have net operating losses (NOLs) and could not utilize the credit contact us today to find out which states allow you to sell your credits and losses for up to 95 cents on the dollar. Also, qualified start-up companies can now take a credit on their payroll taxes for their R&D credit, allowing your company to utilize the R&D credit immediately, even if your company does not have taxable income.
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States and the R&D Credit: