Tax reform comes to Missouri: General Assembly makes history in 2014
There’s no other way to put it. Coming into 2014, Missouri’s tax system was a complete mess. Here are a few examples.
Taxing everyone like a tycoon: Missouri has a graduated income tax that is intended to reserve the highest tax rates for the wealthiest citizens. Yet the bracket hasn’t been adjusted in generations. As decades passed, inflation slowly pushed nearly all Missourians into the highest tax bracket. Despite this passive tax increase, lawmakers never dropped the rates to compensate. In fact, Missouri’s income tax rate hadn’t been cut in nearly a century.
- Guilty until proven innocent: In Missouri’s tax courts, some business taxpayers are innocent until proven guilty. Others are guilty until proven innocent. Either way, this is an unfair double standard that fails to treat all businesses equally.
- Changing the rules (and not telling anyone): Missouri’s tax collectors at the Department of Revenue write…
View original post 1,252 more words