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JEFFERSON CITY, Mo. (AP) - The Missouri House has passed legislation that could lower the tax bill for many Missourians by linking the state's tax brackets to inflation.
 
A bill approved on a 146-4 vote would require Missouri's individual income tax brackets to be adjusted annually for inflation starting in 2015.  Legislative staff estimate that would reduce state tax revenues by $26 million when fully in effect.
 
Although state tax rates have changed over time, Missouri's top income tax bracket has been set at $9,000 since 1931. That means all income over that amount currently is taxed at the same 6 percent rate.
 
The tax-bracket legislation now goes to the Senate. It's one of several measures lawmakers are considering this year that would reduce state income taxes.
Thursday, 27 February 2014 12:48
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St. Louis, MO (KTRS) - A new survey labels a St. Louis company as one of the world's most admired companies.

 

Fortune Magazine named Monsanto as the #2 company in its industry. The list is made using feedback from company surveys as well as peer ratings from executives and analysts.

 

This is the second nationwide award for Monsanto this month--last week MIT named them one of the 50 smartest companies. 

Thursday, 27 February 2014 12:46
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Thursday, 27 February 2014 10:56
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JEFFERSON CITY, Mo. (AP) - The Missouri House has passed legislation that could lower the tax bill for many Missourians by linking the state's tax brackets to inflation.
 
A bill approved on a 146-4 vote would require Missouri's individual income tax brackets to be adjusted annually for inflation starting in 2015.  Legislative staff estimate that would reduce state tax revenues by $26 million when fully in effect.
 
Although state tax rates have changed over time, Missouri's top income tax bracket has been set at $9,000 since 1931. That means all income over that amount currently is taxed at the same 6 percent rate.
 
The tax-bracket legislation now goes to the Senate. It's one of several measures lawmakers are considering this year that would reduce state income taxes.
 
Thursday, 27 February 2014 10:49
Published in Local News
Written by
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