Missouri Releases 2022 Employer’s Guide, Withholding Formula

Missouri’s 2022 employer’s tax guide and withholding formula were released Dec. 1 by the state revenue department.

Compared to the 2021 formula, the 2022 formula decreases the highest tax rate used to 5.3%, from 5.4%. The supplemental tax rate also decreased to 5.3%, from 5.4%. The tax brackets used in the formula were also adjusted.

The standard deductions increased to $12,950, from $12,550, for single employees and married employees whose spouse works or are filing separately. The deductions increased to $25,900, from $25,100, for married employees whose spouses do not work, and to $19,400, from $18,800, for heads of households. ...