Tax breaks for food pantries, pregnancy resource centers and the Children in Crisis program all expired last year when lawmakers failed to pass any type of tax credit reform package. Scott Baker, State Director of the Missouri Food Bank Association, testified today in favor of renewing the incentives. He says according to the USDA, Missouri has the nation’s 7th highest food insecurity rate.
It’s said that one of the certainties in life is taxes. However, taxes for 2012 are to some degree, uncertain because of ongoing negotiations over the so-called fiscal cliff.
Host Don Marsh talked with tax expert Lance Weiss, C.P.A., of SFW Partners, LLC about end-of-year tax preparations and what can be done to minimize the amount owed on federal and state income tax returns due in April.
Despite being rejected by voters last month, there’s a new proposal to raise Missouri’s cigarette tax.
It’s part of a bill prefiled in the Missouri Senate that would also raise the state’s sales tax by one-half percent while fixing the state income tax rate at a flat 4 percent. The proposal would raise the cigarette tax by 26 cents, from its current 17 cents per pack to 43 cents per pack. It’s sponsored by Republican Senator John Lamping of St. Louis County.