FIRST REGULAR SESSION
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE SUTHERLAND.
Read 1st time March 6, 2007 and copies ordered printed.
D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To repeal sections 143.011 and 143.021, RSMo, and to enact in lieu thereof two new sections relating to income tax rates.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 143.011 and 143.021, RSMo, are repealed and two new sections enacted in lieu thereof, to be known as sections 143.011 and 143.021, to read as follows: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 taxable years ending on or before December 31, 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 1/2% 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 1/2% 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 1/2% 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 1/2% 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 1/2% of excess over $8,000
Over $9,000 . . . . . . . . . . . . . . . . . . . . . . . . . $315 plus 6% of excess over $9,000
3. For all taxable years beginning on or after January 1, 2007, the tax shall be determined by applying the following formula:
(1) For any taxpayer filing a Missouri individual income tax return with a filing status of single, head of household, qualifying widow(er), or married filing separately, married filing separately (spouse not filing), or claimed as a dependent, the tax shall be determined as follows:
(a) No tax shall be imposed on taxable income not over $3,250;
(b) For taxable income over $3,250 but not over $9,000, the tax shall be 5 1/2%;
(c) For taxable income over $9,000 but not over $100,000, the tax shall be 5 4/5%;
(d) For taxable income over $100,000, the tax shall be 6%;
(2) For taxpayers filing a Missouri individual income tax return with a filing status of married filing combined, the tax shall be determined as follows:
(a) No tax shall be imposed on taxable income not over $6,500;
(b) For taxable income over $6,501 but not over $18,000, the tax shall be 5 1/2%;
(c) For taxable income over $18,000 but not over $200,000, the tax shall be 5 4/5%;
(d) For taxable income over $200,000, the tax shall be 6%.
143.021. For all taxable years ending on or before December 31, 2006, every resident having a taxable income of less than nine thousand dollars shall determine his tax from a tax table prescribed by the director of revenue and based upon the rates provided in section 143.011. The tax table shall be on the basis of one hundred dollar increments of taxable income below nine thousand dollars. The tax provided in the table shall be the amount rounded to the nearest whole dollar by applying the rates in section 143.011 to the taxable income at the midpoint of each increment, except there shall be no tax on a taxable income of less than one hundred dollars. Every resident having a taxable income of nine thousand dollars or more shall determine his tax from the rate provided in section 143.011.
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