Mo. Lawmakers Look to Fire Back in Business Border Battle

7 years 7 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
COLUMBIA - Although standardized testing will not be a requirement for admission to the UM System this year, some local... More >>
8 minutes ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 7:02:00 PM CDT August 12, 2020 in News
COLUMBIA — After a Board of Education meeting earlier this week, Columbia Public Schools will still give families the choice... More >>
25 minutes ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 6:45:14 PM CDT August 12, 2020 in News
MISSOURI — As COVID-19 continues to spread throughout Missouri, state and local officials confirm new case counts daily. This... More >>
1 hour ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 5:30:00 PM CDT August 12, 2020 in News
COLUMBIA — Police have arrested 39-year old Justin Spence, of Columbia, in connection with a burglary that occurred early Tuesday... More >>
5 hours ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 2:08:00 PM CDT August 12, 2020 in News
COLUMBIA — The Boone County Commission approved $1.8 million in federal coronavirus relief money (CARES Act) for the health department... More >>
5 hours ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 1:54:00 PM CDT August 12, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You... More >>
8 hours ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 11:08:00 AM CDT August 12, 2020 in News
COLUMBIA - Water supply district number 1 is under a precautionary boil advisory because of low water pressure. There... More >>
8 hours ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 11:04:04 AM CDT August 12, 2020 in News
Editor's note: This op-ed is a collaboration between the mental health doctors in the United States from the National Network... More >>
9 hours ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 9:39:57 AM CDT August 12, 2020 in A Brighter Tomorrow
COLUMBIA - After school programs have to make adjustments because of the Columbia school board’s vote to delay the start... More >>
15 hours ago Wednesday, August 12 2020 Aug 12, 2020 Wednesday, August 12, 2020 3:31:00 AM CDT August 12, 2020 in News
JEFFERSON CITY - A Monday crash in Jefferson City damaged three parked vehicles and injured the driver. Curtis Murrell... More >>
22 hours ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 8:18:00 PM CDT August 11, 2020 in News
COLUMBIA - KOMU 8 confirmed on the scene of the incident a man was shot on Tuesday at the Columbia... More >>
23 hours ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 7:22:00 PM CDT August 11, 2020 in News
COLUMBIA - Columbia mayor Brian Treece called on college students to make smart choices when returning to campus. "I... More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 4:58:00 PM CDT August 11, 2020 in News
COLUMBIA - Mizzou superfan Brian Garner has accumulated hundreds of coaches and players' signatures on his prosthetic leg. He hasn't... More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 4:45:00 PM CDT August 11, 2020 in News
WASHINGTON, D.C.: The news conference is scheduled to start at 4:30 p.m., according to Trump. More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 4:26:00 PM CDT August 11, 2020 in News
JEFFERSON CITY - Public school administrators discussed, Tuesday afternoon, the district's reopening plans, as student prepare for the start of... More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 4:16:00 PM CDT August 11, 2020 in News
COLUMBIA — In a new briefing Tuesday afternoon, Columbia police asked the public for information on two separate early-morning incidents.... More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 3:53:00 PM CDT August 11, 2020 in News
COLUMBIA - The parking lot at Tolton Catholic High School will fill up two weeks before Columbia Public Schools. ... More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 3:49:00 PM CDT August 11, 2020 in News
(CNN) -- [Breaking news update, published at 4:40 p.m. ET] The Pac-12 Conference CEO Group unanimously voted Tuesday to... More >>
1 day ago Tuesday, August 11 2020 Aug 11, 2020 Tuesday, August 11, 2020 3:34:00 PM CDT August 11, 2020 in News
Columbia, MO
Broken Clouds 85°
8pm 83°
9pm 81°
10pm 78°
11pm 77°