Tagged: income tax

Occupy movement protesters blocked traffic outside Bank of America's regional headquarters Tuesday in downtown St. Louis. The group, including union workers, students, retirees, and clergy, staged a mock-game of dodge ball to protest how, in their view, corporations dodge paying their fair share of taxes.  

Zach Chasnoff, an organizer for the group, says the movement chose the IRS's filing deadline to call attention to an unfair tax system that favors corporations over citizens.

Among the proposals that Missouri's legislature will consider next year is one that would eliminate the state's income tax.

State Senator Chuck Purgason is sponsoring the legislation. The Republican from Caulfield wants to see Missouri rely solely on sales and use taxes.

He says that would lure more businesses to the state and be a more fair way of taxing residents.

Fresh off approving tax breaks for key Illinois businesses, Democrats and Republicans in the Illinois House are racing to end the corporate tax hike imposed this year.

House Republican Leader Tom Cross announced a plan Wednesday to return the corporate rate to 4.8 percent from 7 percent by 2014 - instead of 2025. He and business leaders proposed a step-down plan that in the meantime would lower taxes when the unemployment rate rises.

Tuesday, Democratic Rep. Jerry Costello II of Smithton introduced legislation that would eradicate the corporate hike starting Jan. 1.