MissouriModifies provisions regarding income taxes, including the imposition of a 4% flat income tax
What it does
SB 1237 - Current law imposes a graduated income tax rate and authorizes reductions in the top rate of income tax contingent on certain state revenue collections, with an eventual top rate of 4.5%. This act provides that, for all tax years beginning on or after January 1, 2027, there shall be a flat income tax rate of 4% on all taxable income.
More detail
This act also provides for additional reductions in the rate of tax until the income tax is eliminated. The reductions shall be equal to 0.1% and shall occur when the amount of net general revenue collected in the previous fiscal year exceeds the highest amount of net general revenue collected in any of the three fiscal years prior to such fiscal year by at least $120 million. (Section 143.011)
Current law also authorizes an income tax deduction for a portion of federal income taxes paid. This act eliminates such deduction beginning with the 2027 tax year. (Section 143.171)
This act is identical to SB 5 (2025 First Extraordinary Session) and is similar to SB 220 (2025). JOSH NORBERG
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jan 27Second Read and Referred S Economic and Workforce Development CommitteeLatest
- Jan 7S First ReadMinor
- 2025
- Dec 1PrefiledIntroduced