State Tax Changes Taking Effect July 1, 2024
Summer has arrived and states are beginning to implement policy changes that were enacted during the legislative session (or are being phased in over time).
13 min readHow does Missouri’s tax code compare? Missouri has a graduated state individual income tax, with rates ranging from 2.00 percent to 4.80 percent. There are also jurisdictions that collect local income taxes. Missouri has a 4.0 percent corporate income tax rate. Missouri also has a 4.22 percent state sales tax rate and an average combined state and local sales tax rate of 8.39 percent. Missouri has a 0.82 percent effective property tax rate on owner-occupied housing value.
Missouri does not have an estate tax or inheritance tax. Missouri has a 24.97 cents per gallon gas tax rate and a $0.17 cigarette excise tax rate. The State of Missouri collects $4,635 in state and local tax collections per capita. Missouri has $8,042 in state and local debt per capita and has an 81 percent funded ratio of public pension plans. Overall, Missouri’s tax system ranks 12th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Missouri is no exception. The first step towards understanding Missouri’s tax code is knowing the basics. How does Missouri collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
Summer has arrived and states are beginning to implement policy changes that were enacted during the legislative session (or are being phased in over time).
13 min readThe vaping industry has grown rapidly in recent decades, becoming a well-established product category and a viable alternative to cigarettes for those trying to quit smoking. US states levy a variety of tax structures on vaping products.
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3 min readNewer products like spirits-based hard seltzers and ready-to-drink cocktails have fueled growth, while also blurring the lines of a categorical tax system. The result has been a spirited competition throughout the alcohol industry for market share, including calls to reform tax policy.
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7 min readGas tax revenues have decoupled from road expenses and have been unable to support road funding in recent years. As such, states nationwide are exploring ways to supplement or replace gas tax revenues.
8 min readAt the end of 2025, the individual tax provisions in the Tax Cuts and Jobs Act (TCJA) expire all at once. Without congressional action, most taxpayers will see a notable tax increase relative to current policy in 2026.
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4 min readHere’s how much NFL players can expect to pay in state and local income taxes—to all relevant states—at multiple salary levels, by team.
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