Beginning in 2017, new tax incentives are available for manufacturers or distributors of manufactured goods shipped through Missouri ports. Senate Bill 861 (2016) enacted three new tax deductions for companies transporting cargo through water ports and airports in Missouri. See Sections 143.2100-.2115, RSMo. The Missouri Department of Economic Development (DED) and the Missouri Department of Revenue (DOR) are charged with jointly administering the new tax deductions. Taxpayers and tax professionals should be aware of these deductions and take steps to determine their eligibility for the 2017 tax year.
In situations where commercial borrowers (developers, businesses, etc.) are in default on a promissory note, the lender may offer to enter into a “forbearance agreement” or some other form of deferment agreement with the borrower. These are often presented by the lender as a generous concession on their part in order to give the borrower additional time to try to work its way out of the problem.
A high-profile state audit of Transportation Development Districts (TDDs) could mean big changes for this frequently-used economic development tool. Developers, property owners and businesses should take steps to ensure compliance with current law and prepare for uncertainty in the wake of calls for a “total overhaul” of the TDD law.
Member Marc Ellinger and Attorney Stephanie Bell published an article on sports betting in the latest issue of Online Gambling Lawyer, titled “The status and future of sports betting in the United States.” The article summarizes the current prohibitions on sports betting, discusses how a New Jersey’s case could change things, and looks at daily […]