Skip to content

As Show-Me State’s General Assembly Convenes, Tax Cuts Take Effect

As Show-Me State’s General Assembly Convenes, Tax Cuts Take Effect

January 4, 2023

The state’s tax cuts drop the individual rate to 4.95 percent and exempt the first $1,000 in income from taxes

As Show-Me State’s General Assembly Convenes, Tax Cuts Take Effect

As Missouri’s General Assembly gaveled into session on Wednesday, the state’s recently passed tax cuts when into effect, dropping the individual rate to 4.95 percent and exempting the first $1,000 in income from taxes. These tax cuts are welcome news to small businesses. As the latest National Federation of Independent Business Small Business Optimism Index revealed, inflation remains the No. 1 problem facing Main Street. And far too many employers are unable to find workers, while many communities’ lack of access to broadband puts small businesses at a competitive disadvantage. Cutting taxes was a crucial first step. But as prices continue to skyrocket and workers remain scarce, job creators will be asking state lawmakers to do no harm and to act in the best interest of small businesses.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

Clothes on a rack at a Retail store
July 14, 2025
NFIB: Alabama Sales Tax Holiday Could Be a Boon to Main Street…
This year’s tax-free weekend is July 18-20.
Read More
July 14, 2025
Reminder: 2025 Ohio Sales Tax Holiday Extension
Ohio’s sales tax weekend extends to two full weeks in August
Read More
July 10, 2025
Historic Legislation Becomes Law and Stops Massive Tax Hike on…
The One Big Beautiful Bill Act is signed into law, permanently extending th…
Read More
July 10, 2025
LISTEN: NFIB LA Director Talks Insurance Reform, Tax Relief, an…
Leah Long legislation making the 20% Small Business Deduction permanent was…
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility