Missouri New Jobs Bill Awaiting Governor’s Signature

From an article today by Steve Giegerich, Business Writer with the St. Louis Post-Dispatch.
“For years, as Missouri small- business owners have watched the state dole out tax breaks to corporations, they wondered, ‘Where’s ours?’ “
“Now, with legislation awaiting the signature of Gov. Jay Nixon, small businesses may be in line for a piece of the action, albeit a small one. House Bill 45 calls on the state to extend a tax deduction of $10,000 for every new hire a small business keeps on the job for 52 weeks.”
“At the business tax rate of 6 percent, that comes out to around $600 for each eligible employee.”
” ‘Still, it’s $600,’ said John Beidle, owner of 1040 Wealth Designs, a St. Louis County tax planning agency. ‘And that’s better than a poke in the eye, right?’ ”
“And the deduction comes with costly strings. During the 12-month period, the employee must work a weekly average of 35 hours. Employers also must provide pay of about $40,000 annually – out of reach for many small businesses.”
Read the rest of the article, here.