Incentives

Missouri’s Tax Climate

  • Missouri rated 16th in the nation as a low tax state by the Tax Foundation.  Missouri has the lowest tax rate among our 7 surrounding states.
  • Corporate taxes –  net effective rate is 5.2% after 50% deduction of  federal taxes
  • Personal income taxes – graduated scale up to a maximum of 6%.  Average rate is 2.7% of gross wages
  • Exempt business taxes: Local property taxes on inventories, State and local sales tax on manufacturer’s machinery and equipment, State sales taxes on energy costs, Sales tax on personal property and building materials if financed with Chapter 100 bonds and approved by the State and local governing authority.

Howard County’s Tax Advantages

Howard County Enhanced Enterprise Zone

  • Except for one census tract, Howard County is an Enhanced Enterprise Zone
  • To qualify, an eligible new or expanding business must create two new jobs, invest $100,000, and pay 50% of health insurance
  • Tax credits available include one-half percent of new investment and two-percent of new payroll.
    (Note:  Not an entitlement program.  Application must be made to Missouri.)
  • Tax abatement on real property taxes provides a generous real property tax abatement scale.  For abatement information, please call:  JoAnn Sumner at 660-248-1000

Local Financing

  • Howard County Industrial Development Authority can locally issue industrial revenue bonds.
  • Howard Couny operates a small, low-interest revolving loan program.

Additional  StateTax Credit and Financing Programs   http://ded.mo.gov/businesses/Programs.aspx