Income Tax

The legislation received almost unanimous bipartisan support in the House on Monday with a vote of 154-2. Since the House passed the Senate bill with no changes made, the measure now goes to the governor.

The legislation decreases the top rate to just under 5% and sets the stage for further reductions. The cut was one of the goals of the special session Parson called.

Both Senate bills now go to the House. In addition to the special session, the annual veto session ended on Wednesday, with no legislation overridden by lawmakers this year.

The bills the Missouri Senate advanced on Tuesday do contain an income tax cut and a series of agriculture tax credits, but do make significant changes compared to what Gov. Mike Parson initially requested.

The Springfield Republican said that the legislature already passed both tax relief and agriculture tax credit programs this past session before Gov. Mike Parson vetoed them and that passing them the way Parson wants them could be a heavy lift.

Parson made his comments on the session after the Governor’s Ham Breakfast at the Missouri State Fair on Thursday. Politicians and candidates across the state attended the event, including the Democratic and Republican candidates for Missouri’s open U.S. Senate seat.

The computer, chair or workplace you set up to work at home during the pandemic is probably not tax deductible.

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