The Missouri Senate has approved SB 18, Senator Will Kraus, that would waive Secretary of State fees for veteran owned or operated businesses. An amendment to the bill by Senator Denny Hoskins also adds renewal of the “Small Business Get Off My Back Act” that protects small b Governor Eric Greitens issued a tweet after perfection of the bill on March 29: “Thank you to the Senators who worked hard tonight to pass an important bill that will help veterans start small businesses

Years ago, we were able to secure a shift in the burden of proof to the Department of Revenue in tax cases for smaller businesses when the dispute did not involve an exemption or credit and where the taxpayer has provided reasonable access to records.  This was done at the same time the burden of proof was shifted at the federal level to the Internal Revenue Service. Fast forward 15 years.  The controls put on the language when it first passed out of concern that taxpayers wo

This week, we saw some activity on SCS SB 509 & 496, a tax cut bill in the Missouri Senate. This bill, as approved by the Senate Ways and Means Committee, was a combination of Senator Eric Schmitt’s SB 496 that contained AIM’s business income deduction for flow-through entities and Senator Will Kraus’ SB 509 (originally a 1% cut in individual income tax plus 50% business income deduction over 10 years of $100m+ growth, exemption of first $25,000 of C corporation income, addit

AIM president Ray McCarty said today he was glad to see Governor Jay Nixon is participating in conversations to reduce the tax burden on Missouri taxpayers, but notes there is need for greater understanding of the types of taxpayers that would benefit from AIM’s tax cut proposals. “Last week’s announcement by Governor Nixon is a good first step toward our goal of reducing the tax burden for all Missouri taxpayers, including Missouri employers, and increasing our ability to co