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 Missouri State Taxes DBBS Student Advisory Committee 2023-2025

Mo Nri Instructions 2023-2025 Form

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during the first 26 years of Missouri statehood there was no tax on income it wasn't until 1917 92 years after we became a state that Missouri passed a permanent income tax it was a mere half a percent and promised to make up for Missouri's turn into the century deficit spent prohibition came on the heels of Missouri's new income tax and cost the state considerable Revenue the legislature responded by raising the income tax rate to 1.5% the income tax brought in almost twice as much as was projected in a rare move Governor Hyde made income tax reduction one of his major policy goals and in 1921 the income tax rate was reduced from 1.5% to 1% in October 1929 the stock market crashed and the Great Depression began in 1931 the Missouri legislature pushed through a graduated income tax where the top rate of 4% applied to incomes of $9,000 or more an income of $9,000 made you a very wealthy person roughly equal to someone making over $130,000 today average per capita

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