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MO HB2457

Bill

Official Source

Status

Introduced

4/1/2010

Primary Sponsor

Bryan Pratt

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Repeals and replaces sections 143.011 and 143.021 of Missouri law relating to individual income taxation
  • For taxable years ending on or before December 31, 2010, maintains existing tax rates ranging from 1.5% to 6% based on progressive income brackets
  • Effective January 1, 2011, eliminates all state income tax on Missouri taxable income of $9,000 or less
  • Beginning in 2011, imposes a flat 4% tax rate on Missouri taxable income exceeding $9,000
  • Changes tax calculation method for residents beginning in 2011 to apply the single rate provided in section 143.011 rather than using tax tables

Legislative Description

Eliminates the individual income tax on Missouri taxable income of $9,000 or less and changes the tax rate to 4% on the amount of income over $9,000

Last Action

Referred: Tax Reform (H)

5/14/2010

Committee Referrals

Tax Reform5/14/2010

Full Bill Text

No bill text available