Bill expands tax breaks for manufacturers

1 decade 2 years 7 months ago Thursday, June 14 2007 Jun 14, 2007 Thursday, June 14, 2007 12:36:28 AM CDT June 14, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
JEFFERSON CITY (AP) - Manufacturers will be getting more tax breaks in Missouri. Governor Blunt signed legislation on Wednesday expanding a sales tax exemption to cover utilities and chemicals used in the manufacturing process. That means businesses won't have to pay state sales tax for such things as the electricity or natural gas used for their assembly lines. Supporters of the tax break tout it as an economic development tool. The Missouri Chamber of Commerce and Industry said all of Missouri's neighbors except Illinois already offer tax breaks on the utilities used by manufacturers. The legislation also grants a state and local sales tax exemption for machinery, equipment and materials used for research and development related to manufacturing.

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