Bill Text: MO HB1422 | 2014 | Regular Session | Introduced

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Bill Title: Eliminates the corporate income tax imposed on Missouri businesses beginning in 2015

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-01-22 - Referred: Ways and Means(H) [HB1422 Detail]

Download: Missouri-2014-HB1422-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1422

97TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVES PARKINSON (Sponsor), SPENCER, BAHR, KOLKMEYER AND KOENIG (Co-sponsors).

4775H.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To repeal section 143.071, RSMo, and to enact in lieu thereof one new section relating to corporate income tax.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Section 143.071, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 143.071, to read as follows:

            143.071. 1. For all tax years beginning before September 1, 1993, a tax is hereby imposed upon the Missouri taxable income of corporations in an amount equal to five percent of Missouri taxable income.

            2. For all tax years beginning on or after September 1, 1993, and ending on or before December 31, 2014, a tax is hereby imposed upon the Missouri taxable income of corporations in an amount equal to six and one-fourth percent of Missouri taxable income.

            3. For all tax years beginning on or after January 1, 2015, no tax shall be imposed upon the Missouri taxable income of corporations. 

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