Berry: Franchise Tax Targeted

THIS WEEK….

This week was a great week in Jefferson City. We really worked hard on several issues focusing primarily on creating jobs in our state. We started the session with a plan to turn the state economy around by fundamentally changing the business environment and HB 76 is part of it. Many of you know that I am a small business owner and have started 3 small businesses. None of which were franchises but if they had been I sure would have been upset to be taxed twice.

The number one issue people talked about when I knocked on doors was how we can create more jobs. HB 76 helps to create this atmosphere for business, and if people create more business, jobs will follow.

Missouri’s additional tax on corporations is called the franchise tax. While Missouri has both corporate franchise and income taxes, many states simply have one or the other. As a result, when national corporations or smaller franchises are choosing where to locate, Missouri’s double taxation often scares them away.

HB 76 phases out the state’s franchise tax over a period of five years. Without the franchise tax, our state will become more attractive to businesses looking to move here and create jobs. In addition, Missouri entrepreneur’s operate on a shoestring budget, and a little bit of tax here or there is the difference between hiring someone new or closing down.

This week the Missouri House took important action to end one form of double-taxation. HB 76 now moves to the State Senate for Consideration.

GOOD TO KNOW…….

Bills

If you would like to track legislation you may log on to www.house.mo.gov and select “Bill Information” and then select “Bill Tracking”. You may search by topic or bill number. If you want to track the bills that I have either sponsored or co-sponsored, just enter my last name and you will be able to look at each of those also.

Taxes

Through IRS Free File, all taxpayers who made less than $58,000 in 2010 can visit http://www.irs.gov/efile/ and use the industry’s top tax preparation software for free. Users get the step-by-step help they need to prepare, complete and file federal tax returns online – at no cost.

Missouri Taxes can be filed free to taxpayers at www.dor.mo.gov.

State Parks Youth Corps

The State Parks Youth Corps is a program helping 17-21 year old Missourians gain work skills. It is a great opportunity to experience Missouri’s beautiful state parks and historic sites while earning money. Jobs are available April 1 through Nov. 30. Youth will earn $7.25 an hour and work throughout the state, enhancing and improving Missouri state parks and historic sites. Some of the responsibilities could include: excavating historical sites, designing marketing campaigns, leading tours, and building trails; to name a few. The positions are limited and do have income eligibility requirements. If you are interested, or know someone who might be, you/they can receive more information and apply on-line by visiting www.mo.gov.

Visitors this week

This week we had visitors from Kearney and Smithville. We also had students that competed on Robotic teams. The Robotics Capitol Interval was held on Thursday. It was great seeing so many of you from the district.

Until our next update, I am, and remain, in your service.