Missouri Tax Cut Bill Headed To Governor’s Desk
JEFFERSON CITY, MO (KTVI) – On the last day of the the Missouri legislative session, the Missouri State House and Senate passed an income tax cut called by some “the Broad-Based Tax Relief Act of 2013.” The bill passed through the Missouri House by a vote of 103 to 51 and by the Missouri Senate 24 to 9.
Over the next ten years, individuals will see personal income tax fall by one half of one percent.
Small business owners will be allowed the opportunity, contingent upon certain factors set forth in the legislation, a 50 percent tax cut, phased in over the next five years for their personal businesses.
The bill now goes to Governor Jay Nixon’s desk.