missouri businesses

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A state audit found the Missouri Department of Revenue is holding at least $20 million in cash bonds from closed businesses.

Image by Evan Townsend

Missouri businesses will have to shell out more money for unemployment taxes next year in order to pay down debt the state owes to the federal government.

Missouri began borrowing federal dollars in 2008 to pay for jobless benefits after an economic downturn drained the state's unemployment benefits trust fund.  Brendan Cossette with the Missouri Chamber of Commerce and Industry says that led to the feds levying a surcharge on Missouri businesses to repay the borrowed money.