Missouri Enacts Tax Legislation

The Missouri Governor signed a law concerning taxation. The law includes: 1) increasing the county sales tax limit to 1.5 percent for Ozark County, provided the tax in excess of 1 percent is for law enforcement services; 2) increasing the county sales tax rate limit to 1 percent for certain counties for law enforcement services; 3) providing a hygiene products sales tax exemption; 4) providing a 100 percent individual income tax deduction, for all tax years beginning on or after Jan. 1, 2025, for capital gain income reported at the federal level; and 5) providing a 100 percent corporate income ...