income tax

Missouri policymakers continue to propose the elimination of Missouri’s individual income tax. But evidence from states without income taxes shows that these states are only low tax for the highest earners. Instead, they rely heavily on sales & excise taxes that hit low and Read More

Despite a looming budget cliff, Missouri policymakers continue to propose the elimination of Missouri’s individual income tax (IIT) – often suggesting increased sales taxes to fill the gap. But replacing income taxes with sales taxes would dramatically raise costs for hardworking Read More

During the 2025 State Legislative Session, lawmakers passed House Bill 594, which exempts capital gains from income tax, making Missouri the only state in the nation that levies an individual income tax that does not also tax capital gains.[i] Capital gains are income generated Read More

For Immediate Release: January 28, 2025Contact: Traci Gleason MBP Response to Income Tax Proposal in State of State AddressStatement by Amy Blouin, President and CEO, Missouri Budget Project “Whether it happens over time or all at once, eliminating the state income tax wipes out Read More