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1 Scott Drenkard, Missouri's 2014 Tax Cut: Minimal and Slow with a Small Business Gimmick 1 (2014)

handle is hein.taxfoundation/taxfaah0001 and id is 1 raw text is: TAXS                  Missouri's 2014 Tax Cut: Minimal
FOUNDATION
FONAT                 and Slow with a Small Business
Gimmick
May. 2014
No. 431               By Scoft Drenkard
Economist
Key Findings
* Missouri's 2014 tax package cuts income tax rates by 0.1
percentage points each year for five years starting in 2017,
provided certain revenue conditions are met.
* The bill's revenue impact is minimal. Even if the full tax cut
were phased in immediately, the budget would still grow by
7.3 percent next year.
* A deduction for pass-through businesses such as S
corporations and LLCs lowers effective rates for those entities
but misses an opportunity for lowering overall rates in the
income tax.
* SB 509 inflation adjusts tax brackets to correct for bracket
creep.

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