Missouri § 135.545 - Tax credit for investing in the transportation development of a distressed community — approval of investment by economic development, credit carried forward, transfer of certificate of credit, maximum amount allowed.
Full text of Missouri Revised Statutes of Missouri § 135.545 — Tax credit for investing in the transportation development of a distressed community — approval of investment by economic development, credit carried forward, transfer of certificate of credit, maximum amount allowed., with citation guidance and answers to common questions.
§ 135.545. Tax credit for investing in the transportation development of a distressed community — approval of investment by economic development, credit carried forward, transfer of certificate of credit, maximum amount allowed.
A taxpayer shall be allowed a credit for taxes paid pursuant to chapter 143, 147 or 148 in an amount equal to fifty percent of a qualified investment in transportation development for aviation, mass transportation, including parking facilities for users of mass transportation, railroads, ports, including parking facilities and limited access roads within ports, waterborne transportation, bicycle and pedestrian paths, or rolling stock located in a distressed community as defined in section 135.530, and which are part of a development plan approved by the appropriate local agency. If the department of economic development determines the investment has been so approved, the department shall grant the tax credit in order of date received. A taxpayer may carry forward any unused tax credit for up to ten years and may carry it back for the previous three years until such credit has been fully claimed. Certificates of tax credit issued in accordance with this section may be transferred, sold or assigned by notarized endorsement which names the transferee. The tax credits allowed pursuant to this section shall be for an amount of no more than ten million dollars for each year. This credit shall apply to returns filed for all taxable years beginning on or after January 1, 1999. Any unused portion of the tax credit authorized pursuant to this section shall be available for use in the future by those entities until fully claimed. For purposes of this section, a "taxpayer" shall include any charitable organization that is exempt from federal income tax and whose Missouri unrelated business taxable income, if any, would be subject to the state income tax imposed under chapter 143.
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(L. 1998 H.B. 1656, A.L. 2007 1st Ex. Sess H.B. 1)
Effective 11-28-07
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 135.545
What does Revised Statutes of Missouri § 135.545 cover?
Section 135.545 ("Tax credit for investing in the transportation development of a distressed community — approval of investment by economic development, credit carried forward, transfer of certificate of credit, maximum amount allowed.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 135.545?
A common citation format is "Revised Statutes of Missouri § 135.545" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 135.545 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.