SECOND REGULAR SESSION
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES BAKER (123) (Sponsor), ERVIN, THOMSON, YATES, KRAUS, MUSCHANY, RICHARD, LEMBKE, NIEVES, SUTHERLAND, McGHEE, KELLY, DAY, FISHER, STREAM, PEARCE, SATER, FUNDERBURK, SMITH (14), PARKINSON, WILSON (130), JONES (117), WOOD, MUNZLINGER, FLOOK, BRUNS AND BROWN (30) (Co-sponsors).
Read 1st time March 26, 2008 and copies ordered printed.
D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To repeal sections 143.011 and 143.021, RSMo, and to enact in lieu thereof two new sections relating to income tax rates.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 143.011 and 143.021, RSMo, are repealed and two new sections enacted in lieu thereof, to be known as sections 143.011 and 143.021, to read as follows:
143.011. 1. A tax is hereby imposed for every taxable year on the Missouri taxable income of every resident.
2. For all taxable years ending on or before December 31, 2007, the tax shall be determined by applying the tax table or the rate provided in section 143.021, which is based upon the following rates:
If the Missouri taxable income is: The tax is:
Not over $1,000.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1/2% of the
Missouri taxable income
Over $1,000 but not over $2,000 . . . . . . . . . . . . . . . . . . . . . . . $15 plus 2% of
excess over $1,000
Over $2,000 but not over $3,000 . . . . . . . . . . . . . . . . . . . . . . . $35 plus 2 1/2% of
excess over $2,000
Over $3,000 but not over $4,000 . . . . . . . . . . . . . . . . . . . . . . . $60 plus 3% of
excess over $3,000
Over $4,000 but not over $5,000 . . . . . . . . . . . . . . . . . . . . . . . $90 plus 3 1/2% of
excess over $4,000
Over $5,000 but not over $6,000 . . . . . . . . . . . . . . . . . . . . . . .$125 plus 4% of excess
over $5,000
Over $6,000 but not over $7,000 . . . . . . . . . . . . . . . . . . . . . . . $165 plus 4 1/2% of
excess over $6,000
Over $7,000 but not over $8,000 . . . . . . . . . . . . . . . . . . . . . . .$210 plus 5% of excess
over $7,000
Over $8,000 but not over $9,000 . . . . . . . . . . . . . . . . . . . . . . . $260 plus 5 1/2% of
excess over $8,000
Over $9,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $315 plus 6% of excess
over $9,000
3. For all taxable years beginning on or after January 1, 2008, the tax shall be determined by applying the tax table or the rate provided in section 143.021, which is based upon the following rates:
If the Missouri taxable income is: The tax is:
Not over $1,000.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 1/2% of the
Missouri taxable income
Over $1,000 but not over $2,000 . . . . . . . . . . . . . . . . . . . . . . $15 plus 2% of
excess over $1,000
Over $2,000 but not over $3,000 . . . . . . . . . . . . . . . . . . . . . . $35 plus 2 1/2% of
excess over $2,000
Over $3,000 but not over $4,000 . . . . . . . . . . . . . . . . . . . . . . $60 plus 3% of
excess over $3,000
Over $4,000 but not over $5,000 . . . . . . . . . . . . . . . . . . . . . . $90 plus 3 1/2% of
excess over $4,000
Over $5,000 but not over $6,000 . . . . . . . . . . . . . . . . . . . . . . $125 plus 4% of excess
over $5,000
Over $6,000 but not over $7,000 . . . . . . . . . . . . . . . . . . . . . . $165 plus 4 1/2% of
excess over $6,000
Over $7,000 but not over $8,000 . . . . . . . . . . . . . . . . . . . . . . $210 plus 5% of excess
over $7,000
Over $8,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $260 plus 5 1/2% of
excess over $8,000
143.021. 1. For all taxable years ending on or before December 31, 2007, every resident having a taxable income of less than nine thousand dollars shall determine his tax from a tax table prescribed by the director of revenue and based upon the rates provided in section 143.011. The tax table shall be on the basis of one hundred dollar increments of taxable income below nine thousand dollars. The tax provided in the table shall be the amount rounded to the nearest whole dollar by applying the rates in section 143.011 to the taxable income at the midpoint of each increment, except there shall be no tax on a taxable income of less than one hundred dollars. Every resident having a taxable income of nine thousand dollars or more shall determine his tax from the rate provided in section 143.011.
2. For all taxable years beginning on or after January 1, 2008, every resident having a taxable income of less than eight thousand dollars shall determine the tax from a tax table prescribed by the director of revenue and based upon the rates provided in section 143.011. The tax table shall be on the basis of one hundred dollar increments of taxable income below eight thousand dollars. The tax provided in the table shall be the amount rounded to the nearest whole dollar by applying the rates in section 143.011 to the taxable income at the midpoint of each increment, except there shall be no tax on a taxable income of less than one hundred dollars. Every resident having a taxable income of eight thousand dollars or more shall determine the tax from the rate provided in section 143.011.
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