4:14 pm
Wed March 27, 2013

Mo. House measures would reduce corporate income taxes

Missouri House members have approved a trio of measures that would reduce taxes for some businesses.

Representatives today passed bills that would encourage construction of computer data centers and investment in high-tech start-up businesses. Both of those measures now go to the Senate.

The House also gave initial approval to a bill that would reduce the state's corporate income tax rate from its current 6.25 percent to 4.25 percent by 2016. The bill also would adjust state individual income-tax rates according to inflation, potentially reducing future taxes for some people. Another provision seeks to increase Missouri's tax collections from Internet sales.

All told, the measures could reduce Missouri's revenues by tens of millions of dollars annually.