Estimated cost of Missouri corporate tax break questioned

1 month 2 weeks 3 days ago March 11, 2017 Mar 11, 2017 Saturday, March 11 2017 Saturday, March 11, 2017 2:13:00 PM CST in News
By: The Associated Press

JEFFERSON CITY (AP) — Missouri's House budget leader said lawmakers might not have changed corporate tax law if they'd known what it would actually cost.

Republican House Budget Committee Chairman Scott Fitzpatrick told The Associated Press that lawmakers had poor information when the 2015 bill came up for a vote.

The measure was estimated to cost about $15 million annually. Corporate tax revenues dropped more than $155 million the first fiscal year it was implemented, though it's not clear whether that was all from the tax change.

Democratic Auditor Nicole Galloway said that's not acceptable. She's auditing corporate income tax law as part of a review of policies that have contributed to budget crunches.

It's unclear whether lawmakers can undo their action. Fitzpatrick says a repeal could be interpreted as an unconstitutional tax hike.

 

More News

Grid
List
COLUMBIA - Close to 25 environmental activists from mid-Missouri boarded a bus bound for Washington, D.C. Friday afternoon headed to... More >>
1 hour ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 7:35:00 PM CDT in News
COLUMBIA - The Missouri Department of Public Safety is preparing to respond to potential dangerous flooding in the forecast beginning... More >>
1 hour ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 7:20:00 PM CDT in News
JEFFERSON CITY - As prom season begins, the Jefferson City Police Department will start sending out more officers to monitor... More >>
1 hour ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 7:01:00 PM CDT in News
JEFFERSON CITY - Fatal accidents involving drugged driving have surpassed those involving drunk driving, according to a new study from... More >>
3 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 5:36:00 PM CDT in News
ST. LOUIS — Thousands of workers in St. Louis are preparing to see a jump in pay now that the... More >>
4 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 4:27:17 PM CDT in News
FULTON - Autopsy results confirmed the body found by the Fulton Police Department Monday is 31-year-old Carl L. DeBrodie, the... More >>
4 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 3:51:00 PM CDT in News
COLUMBIA - Some Columbia utility customers are complaining because of recent past due notices sent out for the month of... More >>
5 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 3:29:00 PM CDT in News
JEFFERSON CITY - Lincoln University’s Board of Curators announced Thursday it will suspend tenure and earned advancements for its faculty.... More >>
5 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 3:24:00 PM CDT in News
COLUMBIA - Four teenagers were taken to the hospital Friday morning following a vehicle crash on I-70, according to the... More >>
5 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 2:58:00 PM CDT in News
COLUMBIA – Music enhances and develops the life of 20-year-old Nathan Walton on a daily basis. "I play a... More >>
6 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 2:01:00 PM CDT in News
COLUMBIA – Missouri Task Force 1 sent a team to Southern Missouri to help with the possible flooding in the... More >>
6 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 2:01:00 PM CDT in News
COLUMBIA - The UM System Board of Curators approved amendments to the University of Missouri-Columbia's collected rules governing faculty standards... More >>
7 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 1:32:00 PM CDT in News
COLUMBIA - The pollen count in Missouri is the highest it has been in ten years, but that might not... More >>
7 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 1:23:00 PM CDT in News
COLUMBIA - A pilot program targeting food insecurity wrapped up at Rock Bridge High School Friday. The program, designed by... More >>
7 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 1:06:00 PM CDT in News
SPRINGFIELD (AP) — A Missouri woman has been charged with first-degree involuntary manslaughter in connection to a fatal crash late... More >>
7 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 1:02:00 PM CDT in News
KANSAS CITY, Mo. (AP) — Three people have been charged in the stabbing death of a Kansas man who was... More >>
7 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 12:54:51 PM CDT in News
JEFFERSON CITY - The Federal Emergency Management Agency (FEMA) and state and local agencies held a public meeting Friday to... More >>
7 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 12:53:00 PM CDT in News
KANSAS CITY, Mo. (AP) — A zoo in western Missouri will soon have a saltwater tank allowing visitors to pet... More >>
8 hours ago April 28, 2017 Apr 28, 2017 Friday, April 28 2017 Friday, April 28, 2017 12:46:58 PM CDT in News
Columbia, MO
Broken Clouds 59°
9pm 59°
10pm 58°
11pm 57°
12am 56°

Select a station to view its upcoming schedule:

Coming Up Next

8:00p
Dateline NBC
10:00p
KOMU 8 News @ 10
10:35p
The Tonight Show Starring Jimmy Fallon
8:00p
Reign
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld

Tonight's Schedule

7:00p
First Dates
8:00p
Dateline NBC
7:00p
The Originals
8:00p
Reign
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld