Mo. has $1M in tax credit penalties
ST. LOUIS – Missouri has levied more than $1 million of penalties against dozens of tax credit recipients for violating a state reporting law intended to gauge whether their projects actually are producing the promised results.
Records provided to The Associated Press show 56 businesses, nonprofit groups and individuals have failed to meet the mandates of a 2004 state law that requires annual progress reports after receiving tax credits.
The list includes major employers such as Harley-Davidson Motor Co., as well as numerous developers who got historic preservation tax credits to remodel old buildings.
The Department of Economic Development initially declined to release the identities of those penalized. But it reversed course Friday after the AP contacted Gov. Jay Nixon's office.