Governor announces tax deductions for job creators
Wed, 18 Jul 2012 17:20:44 GMT —
During his visit to Kirksville Wednesday morning, Missouri Governor Jay Nixon promoted the 2012 Missouri Small Business Jobs Bill. The bill provides a targeted tax deduction for Missouri small businesses that create jobs over the next two years.
â??Missouri small businesses are keeping our economy moving forward by creating new jobs and investing in their communities,â?? Gov. Nixon said. â??This targeted tax deduction is another valuable tool to help small businesses in the Show-Me State continue to grow and hire new workers. With the opportunities and resources weâ??ve put in place for small businesses, now is the time to act.â??
House Bill 1661, the 2012 Missouri Small Business Jobs Bill, provides a tax deduction for small business owners of $10,000 for each new qualifying job they create or a $20,000 tax deduction if that new job includes health insurance coverage. Nixon said the company must pay half of the premium on the insurance.
To be eligible, the small business must have 50 employees or fewer, and the new jobs created must pay a wage that matches either the county or state average wage. In Adair County, the average wage is around $12 per hour.
"This is a targeted, efficient effective investment in businesses that will create jobs, and move our economy forward," said Governor Jay Nixon. "This is a bipartisan legislation that received overwhelming support in both chambers of the General Assembly. "
Gov. Nixon signed the legislation in June.
â??Missouriâ??s economy is moving in the right direction, and small businesses are driving that growth,â?? Gov. Nixon said. â??This targeted tax deduction is another important opportunity weâ??re providing to help small businesses invest, grow and create jobs right now in Missouri.â??
Several local businessmen, including Michael Dijak, Chairman and Chief Financial Officer of Trumascape, said the tax deductions are a great idea.
"I think it's a good opportunity for businesses to expand. I know we'll take advantage of it. And it's just going to be a matter of getting the paperwork worked out which I'm a little bit scared of," said Dijak.
Trumascape has been open for four years and recently opened a new office on North Baltimore in Kirksville. They specialize in landscape design. The company recently acquired the bid to do the landscaping for the new A.T. Still University Dental School. Dijak said that contract will require them to offer up to five new landscape laborer jobs. He said the jobs will go to applicants with a bachelor's degree or those working towards it, and to those who have construction or landscaping experience.