Missouri Lawmakers Pass Income Tax Cut

7 years 4 months 2 weeks ago Thursday, May 09 2013 May 9, 2013 Thursday, May 09, 2013 4:15:00 PM CDT May 09, 2013 in News
By: Associated Press

JEFFERSON CITY - Missouri lawmakers have given final approval to an income tax cut for businesses and individuals that could reduce state revenues by about $700 million when fully phased in.

The legislation passed Thursday would mark the first decrease in Missouri's income tax rate since 1921. It's intended to counteract a recent income tax cut in Kansas, which is battling Missouri for businesses.

The tax cut was a top priority of Missouri's Republican-led Legislature. But Democratic Gov. Jay Nixon has not said whether he will sign it.

The measure would gradually reduce business income taxes by about half and would lower Missouri's top individual income tax rate from 6 percent to 5.5 percent over 10 years. The incremental cuts would take effect only if annual revenues rise by $100 million.

More News

Grid
List
STE. GENEVIEVE - Blair Oaks' 51 regular season game win streak ended against Valle Catholic on Friday. Blair Oaks fell... More >>
5 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 8:47:00 PM CDT September 25, 2020 in Friday Night Fever
(CNN) -- Covid-19 vaccinations could start as early as November, Dr. Anthony Fauci, the nation's leading infectious disease expert, said... More >>
5 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 7:55:00 PM CDT September 25, 2020 in News
COLUMBIA - Columbia’s Goodwill Excel Center Hosted its very first commencement ceremony. The Goodwill Excel Center is a free... More >>
6 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 7:51:00 PM CDT September 25, 2020 in News
JEFFERSON CITY (AP) — Nine television stations have pulled an ad criticizing Democratic candidate for Missouri governor Nicole Galloway. ... More >>
8 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 5:47:00 PM CDT September 25, 2020 in News
MID-MISSOURI - Week five of Friday Night Fever is here. Before you head out to your team's game or tune... More >>
8 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 5:42:00 PM CDT September 25, 2020 in Sports
O'FALLON, Mo. (AP) — A federal appeals court panel is weighing the fate of a sweeping Missouri abortion law, including... More >>
8 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 5:15:01 PM CDT September 25, 2020 in News
Welcome to Week 5 of Friday Night Fever! Our game of the week features the Eldon Mustangs travelling to Southern... More >>
8 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:55:00 PM CDT September 25, 2020 in Friday Night Fever
Below are scores from high school football games from across mid-Missouri. Check out KOMU 8's liveblog with updates from some... More >>
9 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:54:00 PM CDT September 25, 2020 in Friday Night Fever
ASHLAND - It's Thursday morning. Head football coach Trent Tracy gets to Southern Boone High School to turn on the... More >>
9 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:10:00 PM CDT September 25, 2020 in Friday Night Fever
MOUNT VERNON, Mo. (AP) — Nine people have been indicted by a grand jury in connection with the kidnapping and... More >>
9 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 4:05:38 PM CDT September 25, 2020 in News
(CNN) -- President Donald Trump intends to choose Amy Coney Barrett to be the new Supreme Court justice, according to... More >>
10 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 3:16:00 PM CDT September 25, 2020 in News
JEFFERSON CITY - Jefferson City firefighters responded to a structure fire in the 400 block of Marshall Street Friday morning... More >>
13 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 12:12:00 PM CDT September 25, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. Previous coverage: ... More >>
14 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 11:09:00 AM CDT September 25, 2020 in News
COLUMBIA-- A group of University of Missouri students is holding a sit-in Friday on Mel Carnahan Quadrangle on the MU... More >>
15 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 10:13:00 AM CDT September 25, 2020 in News
MONITEAU COUNTY - One man is in custody after a police pursuit through mid-Missouri Wednesday. Matthew Scovell, 40, of... More >>
15 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 9:55:00 AM CDT September 25, 2020 in News
MISSOURI- As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. The... More >>
16 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 9:00:00 AM CDT September 25, 2020 in News
(CNN) -- At least 41 people are sick in 10 different states after a salmonella outbreak that has been linked... More >>
16 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 8:57:53 AM CDT September 25, 2020 in News
WASHINGTON (AP) — Supreme Court Justice Ruth Bader Ginsburg becomes the first woman in American history to lie in state... More >>
17 hours ago Friday, September 25 2020 Sep 25, 2020 Friday, September 25, 2020 8:25:00 AM CDT September 25, 2020 in News
Columbia, MO
Broken Clouds 66°
2am 66°
3am 64°
4am 64°
5am 63°