Qualified Research Expense Tax Credit Program
Provides Missouri tax credits of up to $300,000 for additional qualified research expenses.
About this program
The Missouri Qualified Research Expense Tax Credit Program encourages companies to conduct research and development in Missouri by authorizing tax credits for additional qualified research expenses. Taxpayers may receive a credit equal to 15% of additional qualified research expenses, or 20% when expenses relate to research conducted with a Missouri college or university, with a $300,000 annual cap per taxpayer and a statewide annual cap of $10 million.
Eligibility
Eligible applicants include individuals, partnerships, certain charitable organizations with Missouri unrelated business taxable income, corporations subject to Missouri income tax, and financial institutions with additional qualified research expenses; governmental entities are not eligible.
Requirements
- Applicant must incur additional qualified research expenses for tax years beginning on or after January 1, 2023.
- Applicant must be an eligible taxpayer under the program and not a governmental entity.
- Applicant must submit the required application through Submittable during the application cycle.