Missouri DOR Issues Updated Information on Individual Income Tax Changes Effective For 2022 Tax Year

The Missouri Department of Revenue (DOR) Jan. 17 issued tips to income tax filers to review important individual income tax changes effective for the 2022 tax year. The DOR also includes: 1) while filers are preparing their 2022 tax returns, it’s important to plan for next year; 2) under tax cut legislation signed into law in October 2022, most state taxpayers will pay tax at a lower rate in 2023; 3) S.B. 3 & 5 made several changes to income tax laws in the state, including a reduction of the top individual income tax rate to 4.9 percent from 5.2 ...