135.258. Letter of intent required, when.
Letter of intent required, when.
135.258. 1. A taxpayer shall not be entitled to receive the taxcredits, the exemption and the refunds respectively provided for insections 135.110, 135.220, 135.225, and 135.245 solely because thetaxpayer has met and maintained the new investment and new job creationcriteria required by sections 135.100 through 135.256. In addition tomeeting these criteria, the taxpayer must be in receipt of an approvedletter of intent as described in subsection 2 of this section. Thetaxpayer shall make available such copies of the approved letter of intent,as may be required, to the department of revenue.
2. In order to be eligible for the tax credits, exemption and refundsspecified in subsection 1 of this section, a taxpayer must submit a letterof intent to the director of the department of economic development. Theletter of intent shall be completed on a form that shall be prepared by thedepartment. It need not contain an estimate of the amounts of the taxcredits, exemption or refunds for which the taxpayer may become eligible.The letter of intent shall be submitted to the director at least fifteendays prior to the commencement of commercial operations as defined insubdivision (1) of section 135.100. The director shall approve or deny theletter of intent and return such to the taxpayer within fifteen days of itsreceipt.
(L. 1998 H.B. 1656)Effective 1-1-99
CROSS REFERENCE:
Tax Credit Accountability Act of 2004, additional requirements, RSMo 135.800 to 135.830