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

 
 
 
Thursday, 23 January 2014 12:37

Missouri Senate panel endorses tax cut

JEFFERSON CITY, Mo. (AP) - A Missouri Senate panel has endorsed an income tax cut for businesses and individuals.
 
The legislation backed Thursday by the Senate Ways and Means Committee would gradually reduce Missouri's top individual income tax rate from 6 percent to 5 percent over a decade. It also would phase in a 50 percent deduction over five years for business income reported on individual income tax returns.
 
The incremental tax cuts would take effect only as long as Missouri's net general revenues rose by at least $100 million over the high mark from the previous three years.
 
The legislation also grants an additional $1,000 tax deduction to people with incomes below $20,000.
 
The committee's approval of the legislation means it could be one of the first measures debated this year in the Senate.
Published in Local News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
Health registry could be created under bill on Nixon's desl

Health registry could be created under bill on Nixon's …

JEFFERSON CITY, Mo. (AP) - County officials could compile lists of residents with health problems under a Missouri bill intended to identify people in need of help during disast...

Texas man charged for hitting cyclist while driving dru…

ST. CHARLES, MO (AP) – A Texas man faces second-degree assault charges after allegedly striking a bicyclist while driving drunk.   The St. Louis Post-Dispatch repor...

Rauner skips GOP event over pastor's comments

Rauner skips GOP event over pastor's comments

MOLINE, Ill. (AP) - GOP gubernatorial candidate Bruce Rauner (ROW'-nur) isn't attending a Republican dinner in Moline because he says he disagrees with past statements from a pa...

Mizzou journalism school trying to roll out journalism drones again

Mizzou journalism school trying to roll out journalism …

COLUMBIA, MO (AP) – The University of Missouri journalism school has modified its classroom use of aerial drones as a legal challenge to the FAA ban on commercial use of the fly...

Lawmakers approve changes to Missouri criminal code

Lawmakers approve changes to Missouri criminal code

JEFFERSON CITY, Mo. (AP) - Missouri lawmakers gave final approval to the first comprehensive rewrite of the state's criminal laws in decades.   The House and Senate...

Craig Michael Wood pleads not guilty

Craig Michael Wood pleads not guilty

SPRINGFIELD, Mo. (AP) - A southwest Missouri youth football coach accused of kidnapping, raping and killing a 10-year-old girl has pleaded not guilty   Forty-six-ye...

© 2013 KTRS All Rights Reserved