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 This material may not be published, broadcast, rewritten or redistributed.