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MO HB1268

Bill

Official Source

Status

Engrossed

2/27/2014

Primary Sponsor

Paul Curtman

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Repeals and reenacts section 143.011 of Missouri law to establish individual income tax brackets ranging from 1.5% on income up to $1,000 to 6% on income over $9,000
  • Establishes a progressive tax structure with nine income brackets and corresponding tax rates that increase with income level
  • Requires annual adjustment of all income tax brackets beginning in tax year 2015 based on the Consumer Price Index for All Urban Consumers to account for inflation
  • Directs that tax calculations follow the tax table or rate provided in section 143.021

Legislative Description

Changes the individual income tax brackets to adjust for inflation

Last Action

Public Hearing Held (S)

4/10/2014

Committee Referrals

Fiscal Review2/25/2014
Rules2/11/2014
Ways And Means1/16/2014

Full Bill Text

No bill text available