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MISSOURI PROPOSED LEGISLATION (STILL IN THE HOUSE OR SENATE) JANUARY 31, 2010 Other than increasing the annual cap from $4.5 million to $10 million for qualified productions, Missouri's production incentive program would remain largely unchanged under the proposed bill. That is, resident labor and other qualified production expenditures will earn a 35% transferable tax credit while nonresident labor may earn a credit equal to 30% of the wages that are subject to withholding. If compensation to any individual exceeds $1 million, no part of the payments will qualify. Unused credits may be carried forwards for up to 5 years. For more information please contact: Joe Bessacini |
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