Do People Really Move Because of Taxes?
What do The Rolling Stones, NFL star Tyreek Hill, and Maryland millionaires have in common? They all moved because of taxes.
4 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?
What do The Rolling Stones, NFL star Tyreek Hill, and Maryland millionaires have in common? They all moved because of taxes.
4 min readIn recognition of the fact that there are better and worse ways to raise revenue, our Index focuses on how state tax revenue is raised, not how much. The rankings, therefore, reflect how well states structure their tax systems.
111 min readThe differences in purchasing power can be large and they have significant implications for the relative impact of economic and tax policies across the United States.
3 min readThe state EV taxation landscape reflects the evolving transportation sector and the pressing need to address both fiscal gaps in road funding and environmental concerns.
4 min readAny move to repeal the cap or enhance the deduction would disproportionately benefit higher earners, making the tax code more regressive.
5 min readProperty taxes are the primary tool for financing local governments and generate a significant share of state and local revenues.
6 min readIf the policy goal of taxing cigarettes is to encourage cessation, vapor taxation must be considered a part of that policy design.
3 min readAs more and more states move away from throwback or throwout rules, those states that still impose these rules are becoming less attractive for businesses, which are incentivized to relocate their sales activities to non-throwback states.
6 min readCalifornia pumps out the highest state gas tax rate of 77.9 cents per gallon (cpg), followed by Illinois (66.5 cpg) and Pennsylvania (62.2 cpg).
2 min read