Expanding your Data Center? Now Missouri gives you a Tax break!
A new Missouri law offering tax breaks to computer data centers already is making an impact. Internet service provider Bluebird Network is citing the incentives as one reason it is moving ahead with an expansion of a data center in Springfield.
The law that took effect in late August offers a sales tax exemption on data center equipment and utilities for businesses that meet certain investment thresholds and hire additional workers.
Bluebird Network estimates it could save $191,000 of taxes on its planned $8 million expansion. State economic development officials are hoping other companies now also will consider Missouri for their data centers.
Missouri is at least the 23rd state to enact specific tax breaks for data centers.
About Missouri
Missouri is a state located in the Midwestern United States. It is the 21st most extensive, and the 18th most populous of the fifty states. The state comprises 114 counties and the independent city of St. Louis.
Personal income is taxed in ten different earning brackets, ranging from 1.5% to 6.0%. Missouri’s sales tax rate for most items is 4.225% with some additional local levies. More than 2,500 Missouri local governments rely on property taxes levied on real property (real estate) and personal property.
Most personal property is exempt, except for motorized vehicles. Exempt real estate includes property owned by governments and property used as nonprofit cemeteries, exclusively for religious worship, for schools and colleges and for purely charitable purposes. There is no inheritance tax and limited Missouri estate tax related to federal estate tax collection.
Source: http://fox2now.com/2015/09/30/missouri-offers-tax-breaks-to-lure-data-center-expansion/
