Missouri

Missouri Entertainment Tax Credit Summary

• Individual income, corporate income, bank tax, and insurance premiums tax offset.
• May offset 100% of a taxpayer’s liability.
• Credit must be utilized during the year of transfer or within the 5-Year carryforward period.
• Certificated and transferable tax credit (no transfer limit).
• Sunset: None.

Missouri Low Income Housing Tax Credit Summary

• Applicable against Missouri individual and corporate income tax, as well as Missouri insurance premium taxes and bank taxes.
• Can be utilized by any entity subject to Missouri income tax.
• Low default rate over the 20+ year history
• Recapture risk is only on one-third of the accelerated portion of the credits
• Credits can be allocated to any partner of a partnership or member of an LLC in any manner
• No requirement to comply with federal allocation rules
• Can be carried forward for five years and carried back for three years (credit not to exceed the taxpayer’s Missouri income tax liability)
• May offset 100% of taxpayer’s liability
• Can be acquired in multi-year strips of credits anywhere in duration from 2 to 10 years
• Transferrable to other entities

Missouri Historic Rehabilitation Tax Credit Summary

• Can be utilized by any entity subject to Missouri income tax
• Applicable against income taxes, corporation franchise taxes, insurance premium taxes and bank taxes
• Low default rate over the 20+ year history
• Certificated by the State of the Missouri, no recapture risk
• The credits are purely transferred from developer/project to end user
• Can be carried forward for ten years and carried back for three years (credit not to exceed the taxpayer’s Missouri income tax liability)
• May offset 100% of taxpayer’s liability
• One-year credit
• Transferable to other entities