HB2473--WORKOPPORTUNITYTAXCREDIT
SPONSOR: Hardwick
Thisbillestablishesthe"MissouriJobCreatorsTaxReduction
Act."
BeginningJanuary1,2025,aqualifiedtaxpayermayclaimatax
creditforanywagespaidtoanindividualwhois:
(1)Ina"targetedgroup,"asthattermisdefinedinthefederal
WorkOpportunityTaxCredit(WOTC);and
(2)WhoisemployedbytheState.
Thetaxcreditshallbethelesserof:
(1)Theamountof100%ofthefederalWOTCclaimedforthetax
year,bythequalifiedtaxpayer;or
(2)Theamountofthequalifiedtaxpayer'sStateincometaxforthe
year.
AnonprofitorganizationwithnoStateincometaxliabilitymay
retainwithholdingtaxforsuchemployeesintheamountofthetax
creditthatsuchanorganizationwouldhavebeenauthorizedto
claim.
Thetaxcreditsshallnotberefundableorcarriedforward,and
shallnotbetransferred,sold,orassigned.
ThetaxcreditshallsunsetonDecember31,2030.
ThisbillissimilartoSB1207(2024).