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MO HB1297

Bill

Official Source

Status

Introduced

1/9/2014

Primary Sponsor

Andrew Koenig

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Repeals and replaces section 143.071 of Missouri Revised Statutes regarding corporate income tax rates
  • Maintains 6.25% corporate income tax rate for tax years beginning September 1, 1993 through December 31, 2014
  • Establishes a phased reduction schedule: 5% (2015), 3.75% (2016), 2.5% (2017), 1.25% (2018)
  • Eliminates all corporate income tax entirely for tax years beginning on or after January 1, 2019
  • Keeps existing 5% rate for tax years before September 1, 1993

Legislative Description

Modifies the corporate income tax rate in Missouri by gradually phasing it out over a five year period

Last Action

HCS Reported Do Pass (H)

1/28/2014

Committee Referrals

Ways And Means1/16/2014

Full Bill Text

No bill text available