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Missouri R&D Tax Credits

R&D Tax Credits

Connect with us to find out how R&D Tax Credits can boost your organization’s performance.

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This post was last updated on April 23rd, 2023 by Casey Barka.

Missouri R&D Tax Credits R&D Tax Credit

Find out if you qualify for R&D tax credits in Missouri R&D Tax Credits and recharge your business.

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years
Total tax credit can be carried forward

Missouri R&D Tax Credits R&D Tax Credit Eligibility Summary:

Is the R&D Tax Credit Available?:
Yes
No
Eligible Entities:
Deadline for Tax Filing:
Data Required to Compute Credit:
What Information is needed?:

Missouri R&D Tax Credits R&D Tax Credit Guidelines:

Missouri R&D Tax Credits R&D Tax Credit Case Study

A Nebaraska-based manufacturing company recovered $304K from the R&D tax credits.

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Amount earned in Arizona state tax credits

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Amount of wages qualifed for a Arizona based manufacturer

$

Total R&D tax credit earned

Key Missouri R&D Tax Credits R&D Tax Rules Changes

2019' - 22
22' and after
2019' - 22
22' and after

Resources

There are many other considerations and exemptions, including what documentation the IRS requires for the R&D tax credits. Stay updated to navigate the new tax laws with confidence.

Missouri R&D Tax Credits

Connect with us to find out how R&D Tax Credits can boost your organization’s performance.

Ready to Maximize Your State Credits?

With just a little info, our Strike Experts can help you start your R&D tax credit journey.

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Missouri R&D Tax Credits

Find out if you qualify for R&D tax credits in Missouri and recharge your business

Possible Missouri R&D Tax Credit in 2023

Missouri currently does not have an R&D tax credit that mirrors IRC § 41.

However, on June 30, 2022, Missouri Governor Mike Parson signed HB 2400 which gives the Missouri Department of Economic Development (DED) the authority to authorize the tax credit after January 1, 2023.

If the DED chooses to reinstate the Missouri R&D tax credit, taxpayers could receive credit for 15% of their Qualified Research Expenses (QRE) or 20% of their QREs if the research was performed in conjunction with a private or public college or university located in Missouri.

The annual aggregate cap on these credits would be $10M, with $5M committed to minority business enterprises, women's business enterprises, and small businesses. The credit would be capped at $300,000 per taxpayer. If authorized, the Missouri tax credit would remain in place until December 31, 2028.

Reinstating the tax credit would spur investments and innovations within the state of Missouri. We strongly support HB 2400, and will keep our Missouri clients updated on the DED's decision.

Missouri New Enterprise Creation Act Credit

There is currently a new Enterprise Creation Credit (Mo. Rev. Stat. § 620.650) allowing corporations that make qualified contributions for certain technology investments to receive a credit against the corporation income tax for the full amount of the contribution.

A “qualified contribution” is a cash contribution to a qualified fund under the terms of a contract between the qualified fund and a qualified economic development organization authorized by the Missouri Technology Corporation ("MTC") to enter into such contracts.

In order to obtain the credit, organizations must be established under Missouri law and approved by the MTC in order for the fund to be eligible for the credit. The contributor must apply to the DED for the credit using a prescribed form.

Ready to calculate your R&D tax credits?

To get an estimate of the potential value of your unclaimed R&D Tax Credits, try out our credit calculator.

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Download our R&D Tax Credit Calculator for Android to see how much you can receive from your qualified R&D tax credit expenses.

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