SECOND REGULAR SESSION
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE WRIGHT (137).
Read 1st time February 13, 2006 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To repeal section 143.011, RSMo, and to enact in lieu thereof one new section relating to resident individual tax rates.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 143.011, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 143.011, to read as follows:
143.011. 1. A tax is hereby imposed for every taxable year on the Missouri taxable income of every resident.
2. For all tax years ending on or before December 31, 2005, the tax shall be determined by applying the tax table or the rate provided in section 143.021, which is based upon the following rates:
If the Missouri taxable income is: The tax is:
Not over $1,000.00. . . . . . . . . . . . . . . . . . . . 1 ½% of the Missouri taxable income
Over $1,000 but not over $2,000 . . . . . . . . . $15 plus 2% of excess over $1,000
Over $2,000 but not over $3,000. . . . . . . . . .$35 plus 2 ½% of excess over $2,000
Over $3,000 but not over $4,000. . . . . . . . . .$60 plus 3% of excess over $3,000
Over $4,000 but not over $5,000. . . . . . . . . .$90 plus 3 ½% of excess over $4,000
Over $5,000 but not over $6,000. . . . . . . . . .$125 plus 4% of excess over $5,000
Over $6,000 but not over $7,000. . . . . . . . . .$165 plus 4 ½% of excess over $6,000
Over $7,000 but not over $8,000. . . . . . . . . .$210 plus 5% of excess over $7,000
Over $8,000 but not over $9,000. . . . . . . . . .$260 plus 5 ½% of excess over $8,000
Over $9,000. . . . . . . . . . . . . . . . . . . . . . . . . . $315 plus 6% of excess over $9,000
3. For all tax years beginning on or after January 1, 2006, the tax shall be determined by applying the tax table or the rate provided in section 143.021, which is based upon the following rates:
If the Missouri taxable income is: The tax is:
Not over $1,000.00 . . . . . . . . . . . . . . . . . . . . 1% of the Missouri taxable income
Over $1,000 but not over $2,000. . . . . . . . . $10 plus 1 ½% of excess over $1,000
Over $2,000 but not over $3,000. . . . . . . . .$25 plus 2% of excess over $2,000
Over $3,000 but not over $4,000. . . . . . . . .$45 plus 2 ½% of excess over $3,000
Over $4,000 but not over $5,000. . . . . . . . .$70 plus 3% of excess over $4,000
Over $5,000 but not over $6,000. . . . . . . . .$100 plus 3 ½% of excess over $5,000
Over $6,000 but not over $7,000. . . . . . . . .$135 plus 4% of excess over $6,000
Over $7,000 but not over $8,000. . . . . . . . .$175 plus 4 ½% of excess over $7,000
Over $8,000 but not over $9,000. . . . . . . . .$220 plus 5% of excess over $8,000
Over $9,000. . . . . . . . . . . . . . . . . . . . . . . . . .$270 plus 5 ½% of excess over $9,000
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