POPULATION: 5,988,927
LABOR FORCE: 3,014,310
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Agriculture, manufacturing, tourism, service and trade
EXPANDING INDUSTRIES:
Advanced manufacturing, biomedical/biotechnology, renewable
energy development and systems, aviation/aerospace,
information and media, financial services, professional services,
warehouse/distribution, healthcare services
COLLEGE GRADUATES: (Age 25 and over) 25.9%
BASIC BUSINESS TAXES:
Corporate Income Tax:
5.2 percent net effective
corporate income tax rate
Sales and Use Tax: 4.225 percent state rate;
an additional 1.5 percent use tax for local jurisdictions;
communities may adopt a local sales
tax, generally ranging from 0.5 to 1 percent;
counties also may adopt a sales tax ranging
from 0.25 percent to 1 percent, with exemptions
Property Tax: Real property classified as commercial/
industrial is assessed at 32 percent,
residential at 19 percent, agricultural at 12 percent
of true or fair market value; commercial
and industrial real property assessed an additional
county surcharge designed to replace
revenues lost by tax exemption of business
inventories (with exemptions)
BUSINESS INCENTIVES
Quality Jobs Act (refundable job creation tax credit)
Missouri Build (refundable investment tax credits)
Missouri Customized Jobs Training grants
New Jobs Training (withholdings tax redirection)
Enhanced Enterprise Zone Tax Credits
Chapter 100 property tax abatement
Tax-exempt industrial development bonds
State Historic Tax Credit
Industrial infrastructure grants
Action Fund Loan Program
Tax increment financing
Foreign-trade zones
Rebuilding Community Tax Credits
Brownfield redevelopment tax credits
