HB 850 Establishes the Bring Jobs Home Act which authorizes a tax deduction for out-of-state businesses that relocate to Missouri

Current Bill Summary

- Prepared by Senate Research -

HCS/HB 850 - This act establishes the Bring Jobs Home Act. An income tax deduction is created in an amount equal to 20% of expenses associated with moving all or part of a business from outside of Missouri to a location in Missouri. The number of full time employees of the business in the tax year the business claims the deduction must exceed the number full-time employees of the business in the tax year before the expenses were incurred. The deduction may be taken in the tax year the relocation is completed or in the following tax year. The act sunsets on August 28, 2019.

MIKE HAMMANN

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