State Audit Blasts Tax Break Program For Businesses

The State Auditor says a tax-break program to help businesses get started will lose millions of dollars in the 15 years it’s been authorized to exist. Auditor Claire McCaskill says the program will give away $140-Million in taxes to businesses that will generate less than $24-Million in new tax revenue. The audit says 37 companies have gotten the tax credits so far, and 14 already are out of business. The big winners? The audit says it’s investment companies who will collect $35-Million in fees. The study recommends the state let the progrma expire.