Is your business growing? Are you planning on hiring additional full time employees? If so, you may be eligible to participate in the
Missouri Statewide Works Program, one of several Missouri Works Programs designed
to provide tax incentives to qualified companies creating new jobs in Missouri. Details of the program are outlined
Eligible applicants can be for-profit or
non-profit businesses and can be new or existing Missouri companies.
The business must apply to the program by filing a Notice of
Intent (NOI) with the Missouri Department of Economic Development. Once approved, the NOI will determine the business'
base employment number. The business will only be able to claim qualified new
job incentives for hires beyond the base employment number. Likewise, any decrease in employment will
reduce the new jobs by the same amount.
"Qualified new jobs" must be:
- Created after the date of the NOI,
- Full-time (average 35 or more hours per week
- Where the business offered and pays at
least 50% of health insurance premiums, and
- Paid at
least 90% of the average county wage ($44,810 for St. Louis County until
Incentives: Once ten qualified new jobs are met, the
program allows for the business to retain Missouri income tax withholding with
no annual limit, that otherwise would have been remitted to the State, on qualified
new jobs for five years. An additional
year of retention is available to companies that have been in business for ten
or more years. In addition to
withholding retention, discretionary tax credit benefits may be available.
Limitations: A qualified business does not include food
and drinking places, gambling establishments, store front consumer based retail
trade establishments, educational services, religious organizations, public
administration, ethanol or biodiesel production or health care and social
A business may not receive benefits of the program if it is
receiving benefits from similar Missouri tax credit programs, is delinquent in the
payment of taxes or has filed or publicly announced filing bankruptcy.
Reporting: The business must submit annual reporting documentation to the state under the
program. Benefits may cease in the event the minimum new jobs has not been
We hope you find this information to be helpful. As always, we are here to help. If we can provide assistance or answer
questions regarding this issue or on any other topic, please feel free to contact us.