Tax Credits

The Downtown West neighborhood of St. Louis will soon be home to a new arts and entertainment facility owned by the Kranzberg Arts Foundation. Logic Systems Holdings, a St. Louis County-based audio and video production company, will lease the space.

With millions in expanded tax credits and direct state funding going to anti-abortion groups, the nonprofit Coalition Life has expanded its operations beyond Missouri and into states where the procedure is still legal.

For the third year in a row, taxpayers claiming Missouri’s food pantry tax credit found they didn’t get the full value when the state Department of Revenue reviewed their returns.

The standard exemption increase will mean an extra $69 or so for families of four. The tax credit will once again be tied to inflation after lawmakers last year quietly untied it.

The new sales tax rate at CityPark is 12.7%. St. Louis City SC officials plan to use the extra money for unexpected construction costs.

The set of tax credits, which Gov. Mike Parson mentioned during his State of the State address, gained broad bipartisan support. It stalled in the Senate last session.

The three-year deal is the result of negotiations led by U.S. Rep. Jason Smith, a Missouri Republican, who chairs the House Ways and Means Committee.

As advocates are eager to expand eligibility for use of public funds for private schools, MOScholars participants face months-long waits for tuition aid.

In an effort to reach zero carbon emissions by 2050, the Biden administration is offering more tax credits for carbon capture sequestration and utilization. The program once expected to cost $3.2 billion now could exceed $100 billion.

The legislation received almost unanimous bipartisan support in the House on Monday with a vote of 154-2. Since the House passed the Senate bill with no changes made, the measure now goes to the governor.