Missouri Brownfield Tax Credits

Missouri Brownfield Tax Credits – The State of Missouri offers a tax credit for the redevelopment of contaminated commercial and industrial properties.  The Missouri Brownfield tax credit allows property owners to clean-up and restore properties that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years. 

The Missouri Department of Economic Development will issue 75% of the Brownfield tax credits related to remediation upon adequate proof of payment of the costs.  The remaining 25% of the Missouri Brownfield tax credits will not be issued until a clean letter has been issued by the Missouri Department of Natural Resources.  Brownfield credits may also be issued for non-remediation demolition costs and the creation of new jobs.

Missouri Brownfield tax credits are sellable or transferable with a carry forward of 20 years.  The Missouri Brownfield tax credit can be used to offset Missouri income tax, corporate franchise tax, Bank Tax, Insurance Premium Tax, and other Financial Institution Tax.