Businesses looking for a state with low taxes and high possibilities need to look no further than Missouri.
In 2020, Missouri’s corporate income tax rate dropped to 4 percent. This gave Missouri one of the lowest corporate income tax rates in the United States. In fact, according to Tax Foundation’s 2021 state business tax climate index, Missouri has the 3rd lowest corporate income tax index in the country.
Missouri rose to 12th overall in the U.S. for business tax climate, up two spots from 2019, and climbed to 7th for unemployment insurance tax. What this means is that Missouri offers a business-friendly climate for companies to grow.
Benefits such as low business and labor costs, customized training programs through Missouri One Start, reliable and inexpensive energy, and aggressive and performance-based incentives are key to making Missouri a top state for business attraction.
And now, Missouri’s competitive corporate tax rates will allow more of your company’s capital to go to improvement, growth and hiring. It’s no wonder why so many companies have chosen to expand in Missouri in 2020.
From Accenture Federal Services announcing plans for its new Advanced Technology center in St. Louis, to Chewy, Inc., announcing its new e-commerce fulfillment center in Belton, 2020 has been filled with new growth in Missouri. And that’s just the start.
Engineered Tax Services, Optimas Solutions, R&S Machining Inc., Veterans United Home Loans, Kawasaki Motors Manufacturing Corp, Mortgage Research Center, L.L.C., Upswot, Promoveo, LLC, LifeLine Foods, Benson Hill, and Melton Machine & Control Co. are just a few of the many companies that have decided to invest in Missouri this year.
All of this new investment adds up to one thing: if you want a state with low taxes and high opportunities for business growth, look no further than Missouri.