Taxes in Missouri: Lawmakers set to return to pass income tax cut
The planned cut would reduce the top individual income tax rate in Missouri from 5.3 percent down to 4.8 percent.
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The planned cut would reduce the top individual income tax rate in Missouri from 5.3 percent down to 4.8 percent.
State lawmakers will be returning to the Missouri Capitol for a special session to pass income tax cuts and agricultural tax incentives.
Parson’s proposal would lower the state’s top income tax rate from 5.3% to 4.8% and eliminate the bottom income tax bracket. Some Democratic lawmakers and advocates have expressed concern an income tax cut is poorly-timed.
The planned cut would reduce the top individual income tax rate in Missouri from 5.3 percent down to 4.8 percent.
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