Nixon signs bill offering tax breaks to small businesses that hire
July 5, 2012
Missouri Gov. Jay Nixon on Wednesday stopped by Kansas City to sign tax-deduction legislation aimed at small businesses in the state that create jobs during the next two years.
The legislation offers businesses with 50 or fewer employees a $10,000 tax deduction for each new qualifying job they create. The job must pay at least the county average wage or state average wage, whichever is lower, and the worker must be employed for at least 52 weeks. Jobs that offer health insurance, with the employer paying at least half of the premium, can bring a $20,000 tax deduction.
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