Are There Companies That Receive Earnings Tax or Payroll Tax Exemptions?
The earnings tax is an assessment levied on everyone who lives and/or works in the city of St. Louis. Are there exceptions?
There are no companies or
special redevelopment agreements that exempt a business from earnings or
payroll taxes. There are, however, special economic incentives to help grow
business development in St. Louis.
In these agreements, companies continue to pay payroll taxes and employees pay
the 1 percent earnings tax. To invigorate redevelopment, 50% of the extra
earnings, generated after the special agreement is enacted, are taxed and
redirected back to the company as part a tax increment financing, or
There is another rare
financial arrangement similar to
The following companies received special incentive tax redirections in 2015:
Schnucks 9th StreetGarage
- Wellpoint Companies
- Poisinelli Shugart
- One N Jefferson
By law, the earnings tax is not levied on dividends, interest, pensions, social security, unemployment benefits, worker's compensation, disability payments, IRAs or other retirement income.
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