income tax cuts

Opponents contend the measure would violate a ban on constitutional amendments including more than one subject. They also argue the ballot summary is misleading and should be changed.

Missouri voters will decide later this year whether to eliminate the state’s income tax. Small business owners would be among those to feel the effects most acutely if the measure were to pass.

In his 2026 State of the State address, Gov. Mike Kehoe said he wants voters to authorize a plan that would phase out the state income tax and allow for taxes on purchases like monthly subscriptions and digital services.

The capital gains tax cut will apply to all gains since Jan. 1 and will be reflected in the income tax returns due in April.

Missouri lawmakers are engaged in a high-stakes tax debate, with Republicans proposing income tax cuts reminiscent of Kansas’ failed experiment.

The bill sponsored by state Rep. Travis Smith of Dora would cut the tax rate, currently 4%, to 3% on Jan. 1 and make another one percentage point cut each year until the tax is eliminated in 2028.

Regional stories from the KBIA newsroom, including:Missourians to See Individual Income Tax Cut Under New LawMissouri's McCaskill Spends $3.5 M on…

Missouri Gov. Mike Parson has signed legislation that his office says will cut the state's top individual income tax rate to 5.4 percent next year.The…

House members on Wednesday voted to advance a proposal to cut the income tax rate for businesses and most Missouri residents to 5 percent as part of a…

Missouri revenue growth appears to have reached the threshold to trigger income tax cuts.Data released Wednesday by the state budget director show net…