Gov. Nixon's Recent Veto May Cause Loss of Missouri Businesses

5 years 2 months 5 days ago Sunday, July 14 2013 Jul 14, 2013 Sunday, July 14, 2013 3:39:00 PM CDT July 14, 2013 in News
By: Lexi Spivak KOMU 8 Reporter
loading

GRANDVIEW - The differences in how Missouri and Kansas handle their corporate taxes might force some businesses to move to the other side of Kansas City, where the two states meet.

"The way Missouri and Kansas fight for the businesses is just crazy," said one business owner. Governor Jay Nixon's decisions could be making the difference.

The bill that Nixon vetoed would possibly be the first tax-cut in over 90-years. Bill H-253 would include a decrease in the individual corporate tax rate over a 10-year period in Missouri. Gradually throughout those 10 years a 50% business reduction and a .5% individual income tax cut would also go into effect.

When comparing the Missouri tax-cut to the Kansas tax-cut rate there are even more problems. In Kansas, the state is experiencing revenue drops because of their lower income tax rate.

Tax Consultant Kevin Connealy explained how Kansas-based companies would not be as effected on an individual business level as if they were in Missouri .

"If you're a Kansas based company and you do your business in Kansas that income from the business is not going to be taxed at the individual level," said Connealy.

Prier Products is one of these businesses that did debate the move despite their 132-year relationship with the state of Missouri. Prier has been located in the Kansas City area since its establishment in 1881.

CEO Joe Poskin said, "We have two facilities right now, so to pick those up and to replant them someplace else is quite expensive. On the other hand, you got this incentive, do you move?... It's still a possibility."

Poskin feels frustrated with this battle between the two states and thinks there should be a way that both the states can come together for the greater good of the Kansas City area.

"I think that's counterproductive. We should somehow have some type of cooperation where we're just for the Kansas City area," said Poskin.

Gov. Nixon's deadline to sign or veto any bills sitting on his desk is Monday July 15, 2013. A decision will be made in September during the veto session.

 

More News

Grid
List
FULTON- After the State Auditor's report that more local money could go to domestic violence shelters, one survivor reiterated the... More >>
17 minutes ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 3:52:00 PM CDT September 19, 2018 in News
COLUMBIA – Wednesday morning firefighters burned a simulated dorm room burn on the MU campus to show students how quickly... More >>
56 minutes ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 3:13:00 PM CDT September 19, 2018 in News
COLE COUNTY – Cole County ended its economic development contract with the Jefferson City Area Chamber of Commerce Tuesday. The... More >>
1 hour ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 2:32:00 PM CDT September 19, 2018 in News
KANSAS CITY (AP) — A former prosecutor and chairman of Missouri's Democratic Party has been sentenced to two years and... More >>
2 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 1:55:00 PM CDT September 19, 2018 in Top Stories
COLUMBIA - The Columbia Fire Department ruled a Wednesday morning fire as suspicious. There were no injuries, but the... More >>
2 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 1:28:00 PM CDT September 19, 2018 in Top Stories
COLUMBIA - As rivers are still rising in the aftermath of Hurricane Florence, donations are also flooding in. However,... More >>
3 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 1:01:00 PM CDT September 19, 2018 in News
SEDALIA (AP) — A Kansas City man has pleaded guilty in the fatal shooting of another man at a trailer... More >>
3 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 12:51:00 PM CDT September 19, 2018 in Top Stories
JEFFERSON CITY (AP) — The search for Missouri's next top education official has begun. The State Board of Education... More >>
4 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 11:24:10 AM CDT September 19, 2018 in News
FULTON - UPDATE: Police have found the two boys who escaped from the Division of Youth Services. Police said... More >>
5 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 10:38:00 AM CDT September 19, 2018 in Top Stories
HOWARD COUNTY - Two people are dead and two others injured after a crash on Highway 87 Tuesday afternoon. ... More >>
6 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 9:51:00 AM CDT September 19, 2018 in News
COOPER COUNTY - Anthony Martin died in a crash in Cooper County on Sunday after losing control of his motorcycle.... More >>
9 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 6:57:00 AM CDT September 19, 2018 in News
CAMDEN COUNTY - A Columbia woman was taken to the Lake Regional Hospital on Sunday after a crash involving a... More >>
9 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 6:39:00 AM CDT September 19, 2018 in News
COLUMBIA - Bird scooters will be discussed at the Bicycle and Pedestrian Commission meeting Wednesday night at 7 p.m. ... More >>
12 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 3:15:00 AM CDT September 19, 2018 in Top Stories
COLUMBIA -- The mayor of Columbia's task force on Climate Action and Adaptation planning could recommend an increase in renewable... More >>
13 hours ago Wednesday, September 19 2018 Sep 19, 2018 Wednesday, September 19, 2018 2:24:00 AM CDT September 19, 2018 in News
CALLAWAY COUNTY - Jeff Jones is living just a quarter of a mile away from a future Controlled Animal Feeding... More >>
19 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 8:26:00 PM CDT September 18, 2018 in Top Stories
COLUMBIA - Assistant City Counselor Jose Caldera announced the city and Bird are talking about short-term rules regulating the rental... More >>
20 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 7:25:00 PM CDT September 18, 2018 in News
COLUMBIA - Missouri Task Force One continues rescuing people, checking on others and sheltering those in need in the wake... More >>
21 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 6:48:00 PM CDT September 18, 2018 in News
COLUMBIA - After volunteering at a detention center for women and children seeking asylum in the U.S., one Jefferson City... More >>
22 hours ago Tuesday, September 18 2018 Sep 18, 2018 Tuesday, September 18, 2018 5:20:00 PM CDT September 18, 2018 in News
Columbia, MO
Broken Clouds 86°
5pm 91°
6pm 90°
7pm 86°
8pm 82°