Eligible small business to receive tax credit for efforts to complywith Americans With Disabilities Act, amount--joint administration oftax credit.
135.490. 1. In order to encourage and foster community improvement,an eligible small business, as defined in Section 44 of the InternalRevenue Code, shall be allowed a credit not to exceed five thousand dollarsagainst the tax otherwise due pursuant to chapter 143, RSMo, not includingsections 143.191 to 143.265, RSMo, in an amount equal to fifty percent ofall eligible access expenditures exceeding the monetary cap provided bySection 44 of the Internal Revenue Code. For purposes of this section,"eligible access expenditures" means amounts paid or incurred by thetaxpayer in order to comply with applicable access requirements provided bythe Americans With Disabilities Act of 1990, as further defined in Section44 of the Internal Revenue Code and federal rulings interpreting Section 44of the Internal Revenue Code.
2. The tax credit allowed by this section shall be claimed by thetaxpayer at the time such taxpayer files a return. Any amount of taxcredit which exceeds the tax due shall be carried over to any subsequenttaxable year, but shall not be refunded and shall not be transferable.
3. The director of the department of economic development and thedirector of the department of revenue shall jointly administer the taxcredit authorized by this section. Both the director of the department ofeconomic development and the director of the department of revenue areauthorized to promulgate rules and regulations necessary to administer theprovisions of this section. No rule or portion of a rule promulgatedpursuant to the authority of this section shall become effective unless ithas been promulgated pursuant to the provisions of chapter 536, RSMo.
4. The provisions of this section shall become effective on January1, 2000, and shall apply to all taxable years beginning after December 31,1999.
Eligible small business to receive tax credit for efforts to complywith Americans With Disabilities Act, amount--joint administration oftax credit.
135.490. 1. In order to encourage and foster community improvement,an eligible small business, as defined in Section 44 of the InternalRevenue Code, shall be allowed a credit not to exceed five thousand dollarsagainst the tax otherwise due pursuant to chapter 143, RSMo, not includingsections 143.191 to 143.265, RSMo, in an amount equal to fifty percent ofall eligible access expenditures exceeding the monetary cap provided bySection 44 of the Internal Revenue Code. For purposes of this section,"eligible access expenditures" means amounts paid or incurred by thetaxpayer in order to comply with applicable access requirements provided bythe Americans With Disabilities Act of 1990, as further defined in Section44 of the Internal Revenue Code and federal rulings interpreting Section 44of the Internal Revenue Code.
2. The tax credit allowed by this section shall be claimed by thetaxpayer at the time such taxpayer files a return. Any amount of taxcredit which exceeds the tax due shall be carried over to any subsequenttaxable year, but shall not be refunded and shall not be transferable.
3. The director of the department of economic development and thedirector of the department of revenue shall jointly administer the taxcredit authorized by this section. Both the director of the department ofeconomic development and the director of the department of revenue areauthorized to promulgate rules and regulations necessary to administer theprovisions of this section. No rule or portion of a rule promulgatedpursuant to the authority of this section shall become effective unless ithas been promulgated pursuant to the provisions of chapter 536, RSMo.
4. The provisions of this section shall become effective on January1, 2000, and shall apply to all taxable years beginning after December 31,1999.
Eligible small business to receive tax credit for efforts to complywith Americans With Disabilities Act, amount--joint administration oftax credit.
135.490. 1. In order to encourage and foster community improvement,an eligible small business, as defined in Section 44 of the InternalRevenue Code, shall be allowed a credit not to exceed five thousand dollarsagainst the tax otherwise due pursuant to chapter 143, RSMo, not includingsections 143.191 to 143.265, RSMo, in an amount equal to fifty percent ofall eligible access expenditures exceeding the monetary cap provided bySection 44 of the Internal Revenue Code. For purposes of this section,"eligible access expenditures" means amounts paid or incurred by thetaxpayer in order to comply with applicable access requirements provided bythe Americans With Disabilities Act of 1990, as further defined in Section44 of the Internal Revenue Code and federal rulings interpreting Section 44of the Internal Revenue Code.
2. The tax credit allowed by this section shall be claimed by thetaxpayer at the time such taxpayer files a return. Any amount of taxcredit which exceeds the tax due shall be carried over to any subsequenttaxable year, but shall not be refunded and shall not be transferable.
3. The director of the department of economic development and thedirector of the department of revenue shall jointly administer the taxcredit authorized by this section. Both the director of the department ofeconomic development and the director of the department of revenue areauthorized to promulgate rules and regulations necessary to administer theprovisions of this section. No rule or portion of a rule promulgatedpursuant to the authority of this section shall become effective unless ithas been promulgated pursuant to the provisions of chapter 536, RSMo.
4. The provisions of this section shall become effective on January1, 2000, and shall apply to all taxable years beginning after December 31,1999.
