Mo. Lawmakers Look to Fire Back in Business Border Battle

4 years 4 months 2 weeks 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
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
COLUMBIA - Family and friends of Cameron Scott Caruthers spoke to KOMU 8 News over the telephone Tuesday afternoon. ... More >>
13 minutes ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 5:28:00 PM CDT in News
COLUMBIA - A restaurant was closed Tuesday after crews found high levels of natural gas. Columbia fire crews responded... More >>
1 hour ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 4:38:00 PM CDT in News
KANSAS CITY (AP) — Dashcam video shows that a University of Missouri-Kansas City student seemed confused when she was stopped... More >>
1 hour ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 4:01:00 PM CDT in News
COLUMBIA - The man shot Monday on Dawn Ridge Road has died and robbery does not appear to be a... More >>
2 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 3:25:00 PM CDT in News
COLUMBIA - A Columbia woman has pleaded guilty to murder and armed criminal action in the death of a man... More >>
2 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 3:03:00 PM CDT in News
COLUMBIA - The Central Missouri Humane Society has brought in over 200 animals so far this year and is looking... More >>
3 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 2:10:00 PM CDT in News
KANSAS CITY (AP) — University of Missouri-Kansas City Chancellor Leo Morton plans to retire at the end of the next... More >>
4 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 1:08:28 PM CDT in News
COLUMBIA - Alexander Cartwright, a provost at State University of New York, will be named the next chancellor at Mizzou,... More >>
4 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 12:44:00 PM CDT in News
JEFFERSON CITY (AP) — Missouri House members are set to begin considering legislation as part of a special session called... More >>
5 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 11:41:31 AM CDT in News
COLUMBIA (AP) — The University of Missouri System is set to hire the provost and executive vice chancellor at the... More >>
6 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 11:41:00 AM CDT in News
COLUMBIA - A scam targeting veterans has cost victims about $23 million in less than two years, according to a... More >>
6 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 11:10:00 AM CDT in News
COLUMBIA – Boone County voters may decide whether to make a road and bridge tax permanent. Boone County Presiding... More >>
6 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 10:44:00 AM CDT in News
CLAYTON (AP) — A former suburban St. Louis high school principal already accused of having a sexual relationship with a... More >>
7 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 9:49:55 AM CDT in News
SPRINGFIELD (AP) — Residents around Rogersville are being warned to keep their eyes out for a 20-foot Burmese python that's... More >>
9 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 8:24:00 AM CDT in Top Stories
ST. LOUIS (AP) — A court ruling requires Missouri to at least temporarily remove GPS monitoring devices from some sex... More >>
9 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 8:07:03 AM CDT in News
BETHLEHEM, West Bank (AP) — A senior Palestinian official says he expects President Donald Trump's visit to the Holy Land... More >>
10 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 7:00:01 AM CDT in News
ST. LOUIS (AP) — A 6-year-old St. Louis boy's plea for an end to violence has been viewed by tens... More >>
11 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 5:42:00 AM CDT in News
COLUMBIA – Central Missouri Honor Flight completed its second flight of the year to honor 75 war veterans on Monday.... More >>
15 hours ago May 23, 2017 May 23, 2017 Tuesday, May 23 2017 Tuesday, May 23, 2017 1:53:00 AM CDT in News
Columbia, MO
Broken Clouds 65°
6pm 64°
7pm 63°
8pm 60°
9pm 57°

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
Great News
7:30p
Great News
8:00p
The Voice
7:00p
The Flash
8:00p
iZombie
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld