Mo. Lawmakers Look to Fire Back in Business Border Battle

3 years 11 months 6 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
JEFFERSON CITY (AP) — Missouri's outgoing Democratic Gov. Jay Nixon is giving clemency to 15 people convicted of drug-related crimes... More >>
6 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 8:50:05 PM CST in News
JEFFERSON CITY (AP) — A former director of Missouri's unemployment benefits agency has agreed to a $2 million settlement to... More >>
6 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 8:36:46 PM CST in News
KANSAS CITY, Mo. (AP) — A woman assaulted as a girl during a 1982 attack that killed her mother wants... More >>
6 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 8:27:25 PM CST in News
JEFFERSON CITY (AP) — Missouri Auditor Nicole Galloway said she's reviewing state legal payments following reports of harassment and employee... More >>
6 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 8:16:29 PM CST in News
JEFFERSON CITY (AP) — Missouri Gov. Jay Nixon will work as a private attorney at a suburban St. Louis law... More >>
6 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 7:58:34 PM CST in News
SIKESTON (AP) — Police are investigating the shooting death of a high school student in southeast Missouri. KFVS-TV reports... More >>
7 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 7:52:30 PM CST in News
COLUMBIA - In an effort to increase access to healthy food choices, the U.S. Department of Agriculture announced new standards... More >>
7 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 7:01:00 PM CST in News
BOONE COUNTY - A fire forced a family to evacuate its Boone County home Friday afternoon. Firefighters responded to... More >>
9 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 5:17:00 PM CST in News
CALLAWAY COUNTY - Prosecutors charged a Holts Summit man with multiple felonies Friday in connection to a domestic dispute. ... More >>
10 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 4:52:00 PM CST in News
COLUMBIA - Many students worry their peers won't pay appropriately for a sexual misconduct offense. A bill being introduced to... More >>
11 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 3:25:00 PM CST in Top Stories
COLUMBIA - Gov. Jay Nixon announced recently visitors to the state and tourism spending are at an all-time high for... More >>
12 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 2:35:00 PM CST in News
JEFFERSON CITY - Two men suffered serious injuries in a head-on crash on Highway 50 Friday morning, the Jefferson City... More >>
12 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 2:26:00 PM CST in News
COLUMBIA – The University of Missouri System came out with a report Thursday that shows how much the system saves... More >>
13 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 1:56:00 PM CST in News
CAPE GIRARDEAU (AP) — Three juveniles have been arrested in connection with a threat to a southeast Missouri high school.... More >>
13 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 1:32:20 PM CST in News
KANSAS CITY, Mo. (AP) — A woman assaulted as a girl during a 1982 attack that killed her mother wants... More >>
14 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 12:28:38 PM CST in News
ST. LOUIS (AP) — A jury has convicted a man of shooting two police officers during a 2015 protest in... More >>
14 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 12:22:20 PM CST in News
SEDALIA - The Sedalia Police Department said Friday it is looking for two suspects following a shooting and armed robbery.... More >>
15 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 11:31:00 AM CST in News
FULTON - A Tebbetts man has been charged with several felonies following his arrest Wednesday night. Callaway County deputies... More >>
18 hours ago December 09, 2016 Dec 9, 2016 Friday, December 09 2016 Friday, December 09, 2016 8:42:00 AM CST in News
Columbia, MO
Broken Clouds 24°
3am 20°
4am 19°
5am 19°
6am 18°

Select a station to view its upcoming schedule:

Coming Up Next

2:07a
Today
3:00a
Mad Money
4:00a
LX.TV: 1st Look
2:30a
Paid Program
3:00a
Paid Program
3:30a
Paid Program

Tonight's Schedule

7:00p
The Voice
9:00p
Saturday Night Live
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld