State Tax Laws - Missouri

Individual taxes span the distance from 1% to 6%, with the highest rate coming in at a grandiose $9,000. Standard deduction is $6,100 for the single crowd, or double that for married couples filing together. Exemptions are $2,100 single, $4,200 married, and an extra $1,200 per dependent. A deduction for how much federal tax was paid is also taken. Social security is mostly exempt, and a portion of some pensions are. Sales taxes are 4.225%. There is no estate tax in Missouri.

Corporate tax rates are a flat 6.25%. Franchise taxes are only due if assets are over one million dollars. The franchise tax, if due, is 1/150th of 1% (0.000067). For more information please see: http://www.dor.mo.gov/


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