In January, the Missouri House approved House Bill 45, co-sponsored by Town and Country’s Republican Rep. Sue Allen. The bill, which is an update of 2009’s “Big Government Get Off My Back Act,” is touted to benefit small businesses. It is now awaiting approval and expected to pass in the Missouri Senate. The bill is also expected to gain Democratic Governor Jay Nixon's approval. Nixon has said he's committed to getting Missourians back to work.
"This is the type of common sense legislation I so often say we need more of," said Allen. "It encourages entrepreneurship and helps protect Missouri businesses from federal mandates that hurt our state."
The updated version of House Bill 45 will redefine a “small business” as a company with fewer than 50 full- or part-time employees, up from 25 employees in the 2009 version. It will also extend the benefits from four to five years, meaning that, if approved, the tax breaks will last until 2014.
The plan calls for a $10,000 tax deduction for new jobs created by small businesses. To qualify, the jobs created must be new, full time and pay at least the county’s average wage as determined by the Missouri Economic Research and Information Center. Currently, the average wage in St. Louis County is $855 per week. Benefits will double if the employer also offers health insurance and pays at least 50 percent of the premium.
The bill defines “full-time” jobs as those that are more than 36 hours a week and last at least 16 weeks.
The bill would also extend an existing moratorium on new regulations and fees that impact small businesses by an additional year until 2014. It also would require state legislators to approve federal mandates before they are implemented in Missouri.
The bill is sponsored by Rep. Denny Hoskins, R-Warrensburg. In a press release reported by Missives from Missouri, Hoskins stated that constituents were constantly telling him that the government needs to “find ways to put people back to work.” He said the vast majority of new jobs are created by small business.
On the Horizon:
- in Manchester will not be one of the St. Louis area stores closing due to reports that the company is up for sale. Manchester Blockbuster staff tells Patch that the video stores in Des Peres and Eureka are the only two area stores closing at this time.
- Borders has filed for Chapter 11 bankruptcy and will close three St. Louis area stores. They will close 200 nationwide. The three stores are in Chesterfield Mall, Mid Rivers Mall and Ballwin on Manchester Road. Liquidations sales began on Saturday.
- Women Entrepreneurs of America will host its first small business seminar for women February 26, 2011, from 1 p.m.-3 p.m. at the Buder Branch Library in St. Louis. The seminar is designed to help women entrepreneurs improve the efficiency of their operations, reduce costs and improve revenue opportunities.
- The Missouri Chamber of Commerce will have a webinar on March 1 to address the benefits and legal dangers of social media in the workplace. The webinar costs $50 for members and $75 for nonmembers.