HB2716 authorizes a state tax credit for Missouri taxpayers who incur qualified railroad expenditures or qualified new rail infrastructure.
HB2716 allows eligible Missouri taxpayers to claim a state tax credit for qualified railroad expenditures or qualified new rail infrastructure expenditures. Eligible taxpayers include Class II or Class III railroads, port authorities, city-owned railroads, and owners or lessees of rail sidings or industrial spurs. The credit is equal to 50% of the expenditures, up to certain limits. The credit can be carried forward for up to five years. The Department of Economic Development oversees the credit program, including verification and annual reporting.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.