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HCS/HB 2030 - Beginning January 1, 2017, this act authorizes an individual to deduct from their Missouri adjusted gross income, and corporations to deduct from their federal taxable income for purposes of determining Missouri taxable income, an amount equal to 50% of the net capital gain from the sale or exchange of employer securities of a Missouri corporation to a qualified Missouri employee stock ownership plan if, upon completion of the transaction, the qualified Missouri employee stock ownership plan owns at least 30% of all outstanding employer securities issued by the Missouri corporation. The provisions of this act shall expire six years after the enactment unless reauthorized by an act of the General Assembly. This act is similar to SCS/SB 856 (2016). DOMENIC SITA
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