Mo. Lawmakers Look to Fire Back in Business Border Battle

5 years 6 months 1 week ago Thursday, January 03 2013 Jan 3, 2013 Thursday, January 03, 2013 5:52:00 AM CST January 03, 2013 in News
By: Nick Thompson
loading

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
(CNN) -- The owner of the Mandalay Bay hotel says it bears no liability in last year's Las Vegas concert... More >>
1 hour ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 6:32:00 AM CDT July 18, 2018 in News
SPRINGFIELD (AP) — A 61-year-old southwest Missouri woman has been sentenced to life in prison for an ambush-style shooting of... More >>
1 hour ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 6:08:59 AM CDT July 18, 2018 in News
COLUMBIA - An arrest for suspicion of filing a false report has been made in connection to a reported robbery... More >>
8 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 11:44:00 PM CDT July 17, 2018 in News
CALLAWAY COUNTY - After four days of searching, Jerry Kinman has been found dead near Little Dixie Lake. Kinman,... More >>
9 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 10:19:00 PM CDT July 17, 2018 in News
STURGEON - The carnival rides at the Boone County Fair closed unexpectedly just hours after the fair opened because they... More >>
10 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 9:00:00 PM CDT July 17, 2018 in News
COLUMBIA - A democratic candidate for Missouri's fourth congressional district criticized the Republican incumbent Tuesday for her lack of action... More >>
13 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 6:46:00 PM CDT July 17, 2018 in News
COLUMBIA - The Columbia Chamber of Commerce harshly criticized the city council at Monday night's meeting regarding projects being put... More >>
13 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 6:41:00 PM CDT July 17, 2018 in News
COLUMBIA - Hy-Vee recalled its Spring Pasta Salad from 244 stores on Tuesday. Company officials said 20 illnesses by... More >>
14 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 5:54:00 PM CDT July 17, 2018 in News
MEXICO - Josh Hawley faced questions about President Donald Trump's summit with Russia as well as tariffs facing Missouri farmers... More >>
14 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 5:31:00 PM CDT July 17, 2018 in News
COLUMBIA - Construction crews began adding a turn lane for an upcoming Columbia middle school on South Sinclair Road on... More >>
16 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 2:58:00 PM CDT July 17, 2018 in News
BOONE COUNTY – Expecting mothers in Boone County will soon have more services at their disposal. The county received... More >>
17 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 2:16:00 PM CDT July 17, 2018 in News
JEFFERSON CITY - The Grain Belt Express Clean Line, a proposed energy transmission project through northern Missouri, got new life... More >>
17 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 1:59:00 PM CDT July 17, 2018 in News
ASHLAND - A child identification program wants to help parents be as prepared as possible in the event that a... More >>
18 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 1:41:00 PM CDT July 17, 2018 in News
JEFFERSON CITY - Nineteen agencies received more than $115,000 in grant money Tuesday from the United Way of Central Missouri.... More >>
20 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 11:56:00 AM CDT July 17, 2018 in News
COLUMBIA - Some people may notice their trash laying out on the curb for longer than usual on Tuesday. ... More >>
20 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 11:12:00 AM CDT July 17, 2018 in News
COLE COUNTY - A car chase which started in Cole County on Tuesday ended in Columbia with two arrests. ... More >>
21 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 10:22:00 AM CDT July 17, 2018 in News
JEFFERSON CITY (AP) — The group fighting a ballot measure that would make Missouri a right-to-work state has outraised its... More >>
21 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 10:17:30 AM CDT July 17, 2018 in News
KANSAS CITY (AP) — Authorities say two planes carrying more than 250 passengers made emergency landings at Kansas City International... More >>
21 hours ago Tuesday, July 17 2018 Jul 17, 2018 Tuesday, July 17, 2018 10:11:34 AM CDT July 17, 2018 in News
Columbia, MO
Broken Clouds 72°
8am 74°
9am 76°
10am 79°
11am 81°