Vote Smart's Synopsis:

Vote to pass a bill that establishes revisions corporate to income taxes in the state of Missouri.

Highlights:

• Specifies that the income tax for corporations is equal to 3% of Missouri taxable income (Sec. 1). 

• Specifies that after 2026 the tax will be decreased to 2% (Sec. 1). 

• Specifies that all tax years beginning after 2028 there shall be no tax imposed on the Missouri taxable income of corporations (Sec. 1). 

• Specifies that nothing in this section shall prevent a corporate taxpayer form redeeming a refundable tax credit before the elimination of the corporate tax rates (Sec. 1),

Full Bill Text