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Small-business tax break legislation to be signed into law

5:51 AM, Jun 27, 2012   |    comments
Missouri Governor Jay Nixon. (Photo by Alex Wong/Getty Images)
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JEFFERSON CITY, MO (AP) - Gov. Jay Nixon is preparing to sign legislation granting a tax break for some small businesses in Missouri.

Lawmakers in 2011 approved a tax deduction for small businesses based on each job they add. This year's measure is designed to clarify the types of businesses that can claim the deduction.

Nixon was traveling Wednesday to Kansas City and Joplin for bill signing ceremonies.

Last week, Nixon's administration cited the tax break as one of several measures contributing to a projected state budget shortfall. The governor trimmed $15 million from the budget that takes effect Sunday.

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Small businesses bill is HB45.

Online:
Nixon: http://www.gov.mo.gov  
Legislature:
http://www.moga.mo.gov  

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

 

 

 

Associated Press

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