HB 3026 allows Missouri counties to replace real and personal property taxes with an earnings tax on residents and nonresidents.
HB 3026 authorizes Missouri counties to replace real and personal property taxes with an earnings tax on residents and nonresidents. The earnings tax applies to salaries, wages, commissions, and other compensation. Employers can be required to collect and remit the tax, with a fee allowed for collection. Certain income, such as life insurance proceeds and interest on state or federal obligations, is exempt. The county must submit a proposal to voters for approval before implementing the earnings tax.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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