Gov. Nixon OKs easing taxes for Missouri-based companies

3 years 11 months 2 weeks ago Wednesday, May 06 2015 May 6, 2015 Wednesday, May 06, 2015 6:49:00 PM CDT May 06, 2015 in News
By: The Associated Press

JEFFERSON CITY (AP) - Service and technology companies based in Missouri will have the option of calculating their taxes in a way that supporters of the measure say avoids double taxation.

Gov. Jay Nixon signed a bill Wednesday that gives more companies a tax calculation option that lawmakers say they always intended to apply to all businesses, not just manufacturing companies.

The measure updates a 2013 law that Republican Sen. Will Kraus, the bill sponsor, said was interpreted incorrectly by the state Department of Revenue.

Nixon said the clarification guarantees a level playing field for technology and service-based businesses.

Representatives from H&R Block and Cerner testified in support of the measure in a Senate hearing earlier this year.

 

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