Mo. Gov. Nixon signs small-business tax break

JEFFERSON CITY, Mo. (AP) - Gov. Jay Nixon has signed into law a measure offering a tax break for some small businesses in Missouri.

Lawmakers in 2011 approved a tax deduction for small businesses based on each job they add. This year's measure is designed to clarify the types of businesses that can claim the deduction.

Nixon traveled Wednesday to Kansas City and Joplin for bill signing ceremonies. He says helping small businesses grow and create jobs will help Missouri's economy.

Last week, Nixon's administration cited the tax break as 1 of several measures contributing to a projected state budget shortfall. The governor trimmed $15 million from the budget that takes effect Sunday.

Small businesses is HB45




Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.