☰ Revisor of Missouri


Chapter 135

< > Effective - 01 Jan 1996, see footnote    bottom

  135.414.  Requirements for business to be eligible for tax credit investments — ineligible persons or entities. — The business receiving the investment must have annual revenues of two million dollars or less determined as of the end of the most recent fiscal year and the operation of the business must be the full-time professional activity of the principal owner or owners, except full-time researchers or faculty members at public or private universities.  The following persons or entities shall not be eligible for a credit against state tax liability under the provisions of sections 135.400 to 135.430:

  (1)  The principal owner;

  (2)  The spouse of the principal owner;

  (3)  Any person related to the person specified in subdivision (1) or (2) of this section within the third degree of consanguinity or affinity; or

  (4)  Any corporation, partnership, trust or other entity which is controlled, directly or indirectly, by any of the persons specified in subdivision (1), (2) or (3) of this section where fifty percent or more of the equity interest in any such entity is owned, directly or indirectly, by any of the persons specified in subdivision (1), (2) or (3) of this section.


(L. 1992 S.B. 661 & 620 § 9 subsec. 6, A.L. 1994 H.B. 1547 & 961, A.L. 1995 H.B. 414)

Effective 1-01-96

---- end of effective  01 Jan 1996 ----

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