Authorizes an income tax deduction for certain research expenses in Missouri.
The bill authorizes an income tax deduction for certain research expenses in Missouri. It specifies that for all tax years beginning on or after January 1, 2026, the portion of capital gain on the sale or exchange of experimental expenditures that are charged to capital account can be deducted. The deduction is subject to certain limitations and conditions, including the requirement to provide proof of the amount paid for these activities. This provision aims to incentivize research and development by reducing the taxable income of entities engaged in such activities.
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