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Sponsor seeks to let Missouri businesses expense research and development costs in year incurred
Summary
House Bill 136 would decouple Missouri tax treatment from federal Section 174 changes so businesses can expense research and development (R&D) costs in the year incurred rather than amortizing them; supporters said the change would help small and mid-size manufacturers and defense contractors.
Representative Doyle Justice told the Ways and Means Committee that House Bill 136 would decouple Missouri taxable treatment from federal Section 174 so companies can expense research-and-development costs in the year incurred rather than amortizing them over multiple years. "Currently, Missouri taxpayers are unable to deduct some research and experimentation or research and development expenses off of their income…
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