Missouri House Endorses Tax Break For Gun Manufacturers

JEFFERSON CITY, Mo. (AP) — Firearms manufacturers looking to relocate to Missouri could collect a tax credit under a bill given first-round approval by the Missouri House.

The tax incentive (HB630) endorsed Tuesday would expire in six years and be capped at $3 million annually. Gun and ammunition manufacturers would be able to claim the credit on withholding taxes from creating new jobs.

Sponsoring Republican Rep. Bill White, of Joplin, says the credit will attract gun manufacturers looking to move from states that have passed strict gun control measures. The measure’s opponents say the state would be favoring the gun industry with a special incentive program not available to other industries.

The measure needs one more vote before moving to the Senate.

© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

One Comment

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS St. Louis

Live Inspired
KMOX Podcasts

Listen Live