Missouri Releases 2023 Withholding Methods

Missouri’s 2023 employer’s guide and withholding methods were released Nov. 28 by the state revenue department.

The withholding formula uses tax rates of zero to 4.95%, instead of the previous range of 1.5% to 5.3%. The state’s standard deductions increased to $27,700, from $25,900, for employees who are married with nonworking spouses; to $20,800, from $19,400, for heads of households; and to $13,850, from $12,950, for other filing statuses, the department said.

The state’s flat tax rate for supplemental payments is also to be 4.95%, instead of 5.3%, the department said.