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MO HB2301
Bill
Status
3/4/2010
Primary Sponsor
Mike Sutherland
Click for details
AI Summary
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Repeals sections 143.011 and 143.021 of Missouri Revised Statutes relating to income tax rates and replaces them with new provisions effective January 1, 2011
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Eliminates all state income tax on Missouri taxable income of $4,000 or less for taxable years beginning on or after January 1, 2011
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Imposes a flat 6% tax rate on Missouri taxable income exceeding $4,000 for taxable years beginning on or after January 1, 2011
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Maintains the existing progressive tax rate structure with brackets ranging from 1.5% to 6% for all taxable years ending on or before December 31, 2010
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Simplifies tax calculations by eliminating the need for tax tables for residents with taxable income of $9,000 or more
Legislative Description
Eliminates the individual income tax on Missouri taxable income of $4,000 or less and changes the tax rate to 6% on the amount of income over $4,000
Last Action
Public Hearing Completed (H)
3/25/2010