SB 1029 Missouri Senate · 2024 Regular Session

Phases out the corporate income tax

This bill proposes to eliminate Missouri's corporate income tax by gradually reducing the tax rate over several years. It applies to corporations operating within the state, while excluding out-of-state businesses that already pay taxes under specific interstate commerce laws. The plan starts with a four percent tax rate in 2020, then lowers the rate by 0.8 percentage points annually until the tax is completely removed by 2029.
Bill status in committee 1 of 4 stages cleared
Introduction
Dec 2023
Committee Review
Floor Vote
Governor
Introduced Dec 1, 2023 Last action May 17, 2024
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
7
Key actions
3
Committee
3
Mar 26, 2024
Upper · Passed
Reported from S Economic Development and Tax Policy Committee
upper
Mar 11, 2024
Upper · Passed
Voted Do Pass S Economic Development and Tax Policy Committee
upper
Mar 4, 2024
Upper · Passed
Hearing Conducted S Economic Development and Tax Policy Committee
upper
Dec 1, 2023
Introduced
Prefiled
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Mike Moon
Mike Moon
RRepublican
MO
29