When the Governor of Missouri issued his call for tax reform last year, he said it was no time to be timid.
Challenging his new Department of Revenue Director Joel Walters to craft a “best-in-class tax policy” for the state, Walters proceeded to do just that. By the time his pencil left the paper, he had fashioned a revamped tax code that will make Missouri one of the most competitive states for business in the nation, according to a new article by Site Selection Magazine.
The tax plan, passed by both houses of the Missouri General Assembly and signed by the Governor, lowers the corporate income tax rate in Missouri from 6.25 percent to 4 percent, second only to North Carolina among states that levy such a tax. The 4 percent tax rate will go into effect January 2020.
Check out the full article from Site Selection Magazine here.
For more information on why Missouri could be a prime location to launch or grow your business, contact Steve Johnson, CEO of Missouri Partnership, at 314.725.2688 or via our contact form, with any questions you might have, and learn how Missouri Partnership can help with your business expansion needs.