NewsMay 1, 2013
Mo. House endorses tax break for gun manufacturers
JEFFERSON CITY, Mo. -- Firearms manufacturers looking to relocate to Missouri could collect a tax credit under a bill given first-round approval by the Missouri House. The tax incentive endorsed Tuesday would expire in six years and be capped at $3 million annually. Gun and ammunition manufacturers would be able to claim the credit on withholding taxes from creating new jobs...Associated Press
JEFFERSON CITY, Mo. -- Firearms manufacturers looking to relocate to Missouri could collect a tax credit under a bill given first-round approval by the Missouri House.
The tax incentive endorsed Tuesday would expire in six years and be capped at $3 million annually. Gun and ammunition manufacturers would be able to claim the credit on withholding taxes from creating new jobs.
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Sponsoring Republican Rep. Bill White, of Joplin, Mo., said the credit will attract gun manufacturers looking to move from states that have passed strict gun-control measures.
The measure's opponents said the state would be favoring the gun industry with a special incentive program not available to other industries.
The measure needs one more vote before moving to the Senate.
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