State House Passes Biz Incentives Plan

Missouri’s Republican-controlled led has passed a tax cut for businesses and a sales tax break for shoppers. The House vote, largely on party lines, lowers the corporate income tax to from 6.25% to 5.5% in January. It’s tied to a larger economic development plan that would also create new tax incentives for specific businesses: computer data centers and international exporters at the St. Louis airport. The House passed another amendment exempting products made in the United States from state sales taxes for a one-week period from July 1-7 in 2012 and 2013.