Missouri Tax Credit News
The cap on Missouri Historic Tax Credits - October 12, 2009
Missouri has enacted a cap with respect to historic tax credits. The cap is first imposed for the second half of the state's fiscal year - January 1, 2009 thru June 30, 2009. It is expected that developers will all rush to submit their historic projects to DED to make certain that they are not subjected to a cap with respect to the Missouri historic tax credits for their projects.
For more information about the cap on Missouri historic tax credits you can go to the Missouri Department of Economic Development website - www.ded.mo.gov
Hopefully the current cap will be the only constraint on the Missouri historic tax credit program. However, the resignations Linda Martinez (DED director), the indictment and resignation of Senator Jeff Smith (a key supporter of Missouri historic tax credits), and the languishing economy may necessitate the legislature to further review the Missouri historic tax program given its size.
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