Printer Friendly
Email to a Friend
Missouri House Approved Tax Bracket Adjustment
(AP) - Missouri House members have endorsed the first change in Missouri's income tax brackets since the Great Depression.
A bill given initial approval Monday would require Missouri's tax brackets to be adjusted annually for inflation starting in 2015.
Although the tax rates have changed over time, Missouri's top income tax bracket has been set at $9,000 since 1931. That means all income over that amount is taxed at the same 6 percent rate.
Republican House member Paul Curtman, of Pacific, is sponsoring the tax-bracket legislation. He says that while $9,000 may have been a decent income during the Great Depression, it now falls below the poverty level.
Legislative researchers estimate the tax-bracket adjustment could reduce state tax revenues by $26 million when it's fully in effect.
© Associated Press
MOST VIEWED STORIES
St. Joseph Mo man killed in KS crash
Sunday evening kitchen fires battled in Atchison; one injured
Pole struck Friday; young cyclist struck Saturday in Atchison hit and run
Atchison man arrested following pursuit
Woman arrested after Holton search warrant
Hiawatha USD 415 Supt. announces retirement
Officer bitten during Atchison arrest
Pottawatomie Co Sheriff's Office K9 dies
City Commission approves removal of breed-specific dog ban
Packed hearing Thurs for Atchison Co Lake's future
Longtme Falls City business owner dies
"Highly anticipated" blackout plates coming to KS
Local judge among 15 seeking Supreme Court vacancy
New Brown Co Special Education director hired
Falls City Council takes action on vacant properties
New Jeff Co North leadership hired
County Commission approves bid for new landfill building
LATEST STORIES
Click It or Ticket campaign begins May 18
Boil Water Advisory Rescinded for Robinson
Pawnee City School Board meets
Johnson-Brock School Board meets
Packed hearing Thurs for Atchison Co Lake's future
Plea entered in Jackson Co child sex case
Doniphan Co to reapply for grant for ADA project
Hiawatha, Ks 66434