Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

Online pharmacy:fesmag.com/tem

Have you a sex problem? Please visit our site:fesmag.com/medic

Site map
 
 
 
Tuesday, 03 September 2013 03:30

Analysis: Huge MO tax cut largely hypothetical

   JEFFERSON CITY, Mo. (AP) - Governor Jay Nixon says a clause in the income tax cut bill that he vetoed could have triggered a $1.2 billion run on the state treasury.

   Attorney General Chris Koster agreed with Nixon's legal analysis this past week. But the projection remains largely hypothetical.

   The Missouri bill would trigger a one-half of a percent reduction in state income tax rates if the federal government enacts a measure making it easier for states to collect online sales taxes.

   That bill has stalled in the U.S. House. But if it passes, then all of Missouri's roughly 2.8 million income taxpayers would have to amend three years of tax returns for Nixon's projections to hit in a single year.

   The courts likely would have to determine whether the retroactive tax refund is legal.

 
Published in Local News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next

One Cent Sales Tax For Transportation Endorsed

JEFFERSON CITY, Mo. (AP) - A Missouri Senate committee has endorsed a 1-cent sales tax increase to fund transportation projects.     The proposed constitutiona...

Safe Rooms Opening Soon In Joplin

(Joplin, MO)  --  Joplin officials say some safe rooms to protect residents during storms are expected to open in the next few weeks. Joplin school officials say f...

Dog Shooting Investigated In Washington, MO

WASHINGTON, Mo. (AP) - An investigation continues after an eastern Missouri deputy shot and killed a dog. The Washington Missourian reports that Franklin County deputies wen...

No Tuition Increase At SIU

CARBONDALE, Ill. (AP) - New students at Southern Illinois University won't be paying more for tuition this fall. WSIU Radio reports the university system's trustees on Thurs...

KC Highway Shooting Suspect Arrested

Kansas City police are crediting what they call "lots of tips" in the case of a series of highway shootings in that area over the past five weeks. Authorities raided a Grandview...

Proposed Sales Tax Exemption Would Benefit Missouri Foo…

JEFFERSON CITY, Mo. (AP) - Pizza parlors, doughnut stores and other restaurants could get a tax break under legislation passed by the Missouri House.   The bill wou...

TRANSCRIPT SHOWS FERRY CAPTAIN DELAYED EVACUATION

TRANSCRIPT SHOWS FERRY CAPTAIN DELAYED EVACUATION

MOKPO, South Korea (AP) — Fresh questions arose about whether quicker action by the captain of a doomed ferry could have saved lives, even as rescuers scrambled to find hundreds...

SUB SCOURS OCEAN FOR MISSING MALAYSIAN JET

SUB SCOURS OCEAN FOR MISSING MALAYSIAN JET

PERTH, Australia (AP) — A robotic submarine headed back down into the depths of the Indian Ocean on Friday to scour the seafloor for any trace of the missing Malaysian jet one m...

© 2013 KTRS All Rights Reserved