It’s been a golden yr for state tax cuts, and the Present Me State is the newest to ship. The tax saga on this heartland state captures the great and unhealthy of at this time’s tax-cutting pattern.
Missouri’s Legislature on Saturday accredited a plan to chop the state’s high income-tax charge to 4.95% from 5.3%. The invoice comprises triggers that may cut back the speed additional every year if the state meets sure income targets. If state coffers keep full, Missouri’s high charge will fall to 4.5% by 2027. That might be a leap from the underside half to the highest quarter of the 50 state income-tax rating.
