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Tax/Incentive Profile > Training Programs
TRAINING PROGRAMS Missouri New Jobs Training Program The program provides assistance in reducing the cost associated with expanding a workforce or locating a new facility through these training services:
Training assistance can include skill assessment, orientation, pre-employment training, training facilities and equipment, instructor salaries, curriculum design, and training materials. Eligible businesses include manufacturing, processing, and assembling firms, as well as companies that conduct research and development, or that provide services in interstate commerce. Retail businesses do not qualify for the program. Funds to pay for the training are provided through certificates that are repaid using a portion of the new employees’ state withholding tax for a period of up to 10 years. The certificates are sold through the local community college district. The tax withholding is equal to 2.5% of gross wages for the first 100 new jobs, and 1.5% for the remaining new jobs. To repay the training and certificate costs, the tax withholding may be claimed for eight to 10 years depending on the size of the project. Missouri Customized Training Program The Department of Economic Development, through the Division of Workforce Development, operates the program in coordination with the Department of Elementary and Secondary Education. Examples of expenses which might be covered under this program are:
Programs are customized to meet the specific needs of the company:
Eligible companies are those providing permanent, full-time employment to Missouri residents, paying high competitive wages and creating new jobs above their peak employment level in the past year or retraining existing employees as a result of a substantial new capital investment. Applications should be submitted 30 days prior to the start of training or hiring. Some occupations and industries may not be eligible for this program and minimum wage rates apply. Skills Development Tax Credit Program The program is customer-focused and employers have the choice of using public or private educational institutions. Training costs may include tuition, instruction, curriculum design, training materials, the lease of classroom space or training equipment, and other related training expenses that do not exceed the prevailing rates. Eligible employers are located in designated “rebuilding” communities. Eligible employees are full- or part-time workers whose current earnings do not exceed 200% of the federal poverty level. The program’s intent is to help employees with lower skills and limited income to upgrade their work skills and earn a higher wage. Therefore, upon completion of training, the trainee must be promoted into a full-time upgraded position with increased skills and earning a higher wage. |
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| Submenu TAXES- Corporate Income Taxes Individual Income Taxes Property Taxes Unemployment Insurance Workers' Compensation Sales & Use Taxes Corporate Franchise Taxes Business Formation Fees INCENTIVES- Income Tax Credits Property Tax Exemptions Sales & Use Tax Exemptions Training Programs Financing Programs Foreign Trade Zones Utility Incentives Int'l Trade Incentives Download a .pdf version of the profile! Click here. |
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