Mo. House approves tax breaks for businesses

JEFFERSON CITY, Mo. -- Missouri House members have approved a trio of measures that could reduce taxes for some businesses.

Representatives on Wednesday passed bills that would create new incentives for the construction of computer data centers and investors in high-tech, startup businesses. Both measures go to the Senate.

The House on Wednesday also gave initial approval to a bill that would gradually reduce the state's corporate income tax rate from 6.25 percent to 4.25 percent by 2016. The bill would make Missouri's individual income tax brackets subject to annual inflationary adjustments, potentially reducing future taxes for some people. Another provision seeks to increase Missouri's tax collections from Internet sales.

The measures could reduce Missouri's revenues by tens of millions of dollars annually.