Printer Friendly
Email to a Friend
Missouri Tax Cut Proposals Move Forward
(KLZA) The Missouri House is moving forward with a couple of proposals to cut the state income tax.
The House passed legislation Thursday that would cut the state's corporate income tax rate in half over five years and phase in a 50 percent deduction for business income reported on individual income taxes. It's projected to eventually reduce state revenues by up to $328 million annually.
Next week, the House is expected to debate a committee's revision of a Senate tax plan. In addition to business tax cuts, that legislation would gradually reduce the individual income tax rate by two-thirds of a percentage point. The bill also would raise the sales tax by six-tenths of a cent. Two-tenths of that sales tax hike would be devoted to roads and mental health facilities.
© Associated Press
MOST VIEWED STORIES
Sabetha couple killed in Brown Co crash
Registered drug offender returned to Atchison Co Jail
Atchison man pleads not guilty to charges in Brown Co case
One person injured in Brown Co rollover crash
Injuries, damage averted in Sabetha house fire
Trump thankful for late Deputy's service, sends Brown Co letter
Spilled mower fuel blamed for Atchison fire
Two arrested after Humboldt search warrant
Richardson County Board denies grievances
Two killed in two-vehicle Otoe County crash
Former Atchison Co Commissioner passes at 97
U.S. 75 project to begin Monday in Brown Co
Mayetta man faces child sex-crimes in Shawnee Co
Additional Nemaha County filings
Ceremony Tuesday for historic Lady Ravens victory
Atchison Memorial Hall future focus of May 13 mtg
Annual activities planned for Saturday in Atchison
LATEST STORIES
One person injured in Brown Co rollover crash
Two killed in two-vehicle Otoe County crash
Project to begin Monday on U.S. 36 in Fairview
U.S. 75 project to begin Monday in Brown Co
Community survey assessed by Atchison leaders
Drowning concerns grow as summer approaches
Mayetta man faces child sex-crimes in Shawnee Co
Hiawatha, Ks 66434