Mo. Lawmakers Look to Fire Back in Business Border Battle

4 years 2 weeks 2 days ago January 03, 2013 Jan 3, 2013 Thursday, January 03 2013 Thursday, January 03, 2013 5:52:00 AM CST in News
By: Nick Thompson
Embed Code Copied

JEFFERSON CITY - Missouri lawmakers have filed several proposals to cut income taxes in Missouri for the upcoming legislative session, citing the need to keep up with Kansas. 

Kansas passed legislation in May that took effect at the beginning of this year. It reduces the top individual income tax rate from 6.45 percent to 4.9 percent and eliminated income taxes altogether for 191,000 businesses. Missourians currently pay individual income taxes of 6 percent on taxable income above $9,000.  

Kansas also provides loftier incentives to businesses in the Kansas City area. According to an analysis by the Associated Press, Missouri and Kansas have doled out $750 million worth of tax incentives in the region in the last five years, with three quarters of that spending coming from Kansas. A 2009 Kansas law allows companies that re-locate to retain 95 percent of their employee witholding tax for up to ten years. 

Business leaders in Kansas City have expressed worry that businesses moving across state lines are only creating what economists call a "zero-sum" game, where millions in state incentives are paid with no real benefit to the region. 

In the Missouri Senate, some lawmakers look to follow the Sunflower State's lead. The proposals include: 

-A plan pre-filed by Sen. Brad Lager, R-Savannah, that eliminates the state's corporate income tax rate altogether by 2018. 

-A proposal by Sen. Eric Schmitt, R-Glendale, that reduces the corporate rate and will allow a 50 percent deduction for business income by 2016. 

-A bill pre-filed by a Kansas City area lawmaker, Sen. Will Kraus, R-Lee's Summit, that lowers rates on corporate, business and individual income. 

-A bill pre-filed by Sen. John Lamping, R-Ladue, that flattens the individual income tax rate at 4 percent and raises cigarette and sales taxes. 

 

 

 

 

More News

Grid
List
BOONE COUNTY - The Missouri Highway Patrol has identified the person at the center of a death investigation north of... More >>
33 minutes ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 5:15:35 PM CST in Top Stories
ST. LOUIS (AP) — St. Louis police say a 79-year-old man fatally shot the assistant manager of an apartment for... More >>
55 minutes ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 4:53:42 PM CST in News
COLUMBIA - The Columbia Police Department responded to a shots fired incident near Quail Drive Thursday afternoon. According to... More >>
1 hour ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 4:25:00 PM CST in News
KANSAS CITY (AP) — A federal appeals court has revived a lawsuit challenging Missouri regulations limiting how alcohol producers and... More >>
1 hour ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 3:50:31 PM CST in News
JEFFERSON CITY (AP) — A Missouri senator says the state shouldn't be investing in Russia, and she has filed a... More >>
2 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 3:44:00 PM CST in News
ST. LOUIS (AP) — The man who was the face of Ferguson, Missouri, in the turmoil that followed the 2014... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:47:32 PM CST in News
COLUMBIA - New research from the University of Missouri School of Social work called for more attention to advanced directives,... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:40:00 PM CST in News
JEFFERSON CITY (AP) — A bill prohibiting mandatory union fees in workplaces is moving to the Missouri Senate after winning... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:36:00 PM CST in News
JEFFERSON CITY (AP) — Airport, trucking and business officials all are urging Missouri lawmakers to change state driver's license laws... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:24:06 PM CST in News
KANSAS CITY (AP) — Kansas City-area investigators are searching for a missing college student from Wichita who hasn't been seen... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:15:54 PM CST in News
KANSAS CITY (AP) — The city of Ferguson, Missouri, is appealing a federal jury's $3 million award to the family... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:08:00 PM CST in News
MOUNT VERNON (AP) — A southwest Missouri fa rmer who was charged in a fork loader assault has pleaded guilty... More >>
3 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 2:00:50 PM CST in News
COLUMBIA - A new report released by the Missouri Women's Foundation Thursday shows a need for policy changes to improve... More >>
5 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 12:28:00 PM CST in News
COLUMBIA - Nothing dampens one's spirits—and surroundings—like a water main break. For the Columbia Senior Activity Center, a water line... More >>
6 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 11:09:00 AM CST in News
ST. LOUIS (AP) — A 26-year-old St. Louis man is now charged with two counts of first-degree murder for the... More >>
10 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 7:23:07 AM CST in Top Stories
COLUMBIA - The Boys & Girls Club in Columbia began demolishing the Sonic on Business Loop Thursday morning in order... More >>
14 hours ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 3:33:00 AM CST in News
JEFFERSON CITY — If Missouri fails to comply with the federal REAL ID Act, some Missourians could face a real... More >>
1 day ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 5:05:00 PM CST in News
COLUMBIA - A Columbia man started a petition against a magic show featuring rare, white tigers at the University of... More >>
1 day ago January 18, 2017 Jan 18, 2017 Wednesday, January 18 2017 Wednesday, January 18, 2017 3:49:00 PM CST in News
Columbia, MO
Broken Clouds 48°
6pm 49°
7pm 48°
8pm 48°
9pm 47°

Select a station to view its upcoming schedule:

Coming Up Next

5:30p
NBC Nightly News with Lester Holt
6:00p
KOMU 8 News @ 6
6:30p
Wheel of Fortune
5:30p
American Dad!
6:00p
Family Guy
6:30p
Family Guy

Tonight's Schedule

7:00p
The Good Place
8:00p
Chicago Med
9:00p
The Blacklist
7:00p
DC's Legends of Tomorrow
8:00p
Supernatural
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld