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Missouri state taxes
Income
tax rates		 Income brackets Personal exemption Federal Tax deduction State sales tax
Low High # of brackets Low High Single Married Child
1.5% 6.0% 10 $1,000 $9,000 $2,100 $4,200 $2,100 * 4.225% plus local levies
*Limited to $10,000 for joint returns and $5,000 for individuals.
$ Personal income tax
• Residents of the "Show Me State" have to file Form MO-1040 or MO-1040A forms (Individual Income Tax Return) by April 17.
• Pension recipients get a break from Missouri. The state provides an exemption of up to $6,000 ($12,000 if married filing combined and both you and your spouse have pensions) in pension income based upon certain income limitations. The pension exemption is computed on part 3 of Form MO-A.
$ Sales tax
• Missouri's sales tax rate for most items is 4.225 percent.
• Additional local levies may apply. Click here for a listing of city and county sales and use tax rates. Previous year sales tax rates can be found here.
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$ Personal and real property taxes
•

More than 2,500 Missouri local governments rely on property taxes levied on real property (real estate) and personal property. The amount of property taxes imposed on any taxpayer is determined by two separate factors

  1. The assessed value of their taxable property, as established by the local assessor, and
  2. The total of the tax rates that have been set by the several governing bodies of local governments where the property is located, plus the three cent (per $100 valuation) state tax rate.
• Some personal property is exempt, including household goods, inventories, wearing apparel and items of personal use and adornment. Exempt real estate includes property owned by governments and property used as nonprofit cemeteries, exclusively for religious worship, for schools and colleges and for purely charitable purposes.
• The Missouri Property Tax Credit Claim is a program to give credit to certain senior citizens and 100 percent disabled individuals for a portion of the real estate taxes or rent they have paid for the year. The credit is for a maximum of $750 and can only be claimed on the home they occupied during the period being claimed. The actual credit is based on the amount of real estate taxes or rent paid and total household income.
• The Homestead Preservation Act allows qualified senior citizens and totally disabled individuals a credit on their real estate property tax.
$ Intangible personal property taxes
• In Missouri, tax is not assessed on intangible personal property.
$ Inheritance and estate taxes
• There is no inheritance and limited Missouri estate tax related to federal estate tax collection.
• Because the IRS will no longer allows a state death tax credit for deaths after Jan. 1, 2005, no Missouri estate tax is imposed and no estate tax return is required for deaths occurring after that date.
  For more information, visit the Missouri Department of Revenue's Web site.
  --Updated: Feb. 8, 2006
 
See Also
• State taxes roundup (graphical)
• State taxes roundup (text)
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