JEFFERSON CITY, Mo. (AP) — Two tax measures that would benefit businesses based in Missouri are heading to Gov. Jay Nixon’s desk after passing the Legislature.
The Missouri House on Monday approved changing the way corporate taxes are calculated by a vote of 153-4. It’s a move supporters say will ensure companies headquartered in the state don’t face double taxation.
Rep. Caleb Jones, of Columbia, says making sure businesses can voluntarily calculate taxes this way would keep businesses currently based in Missouri in the state.
The House also passed 102-53 a bill to extend a tax credit program for new or expanding headquarters of businesses from the current 2020 end date to 2025.
Both measures have already passed the Senate and now go to the governor.