Missouri’s business tax climate remains among the best in the nation

washington, November 22, 2022 /PRNewswire/ — Missouri The state has consistently maintained one of the best overall sales tax states in the nation and is a top contender in the Midwest, ranking among the top 15 for the fourth year in a row, according to the Tax Foundation’s 2023 State Business Tax Index.

The index is designed to show how states structure their tax systems, providing a roadmap for short- and long-term improvements. The index is determined by five components – personal income tax, sales tax, corporate income tax, property tax and unemployment insurance tax – enabling business leaders, government policymakers and taxpayers to compare their state’s tax system with the rest of the country .

ranking put Missouri Top 4 states and 7 in the Corporate Tax Index and Unemployment Insurance Indexday Best overall in property tax rankings. Missouri has improved its position in the index over the past six years, rising from 14th today Ranked 11th in 2016day, which has remained at that level since 2020. Has the second lowest corporate income tax rate (4%) in the country, a $11,000 With a taxable wage base for unemployment insurance and a property tax rate of 0.96%, the Show-Me state’s low taxes solidify its position as a premier business location.

Missouri Low corporate tax rates combine with modest business and labor costs, sponsored training and incentive programs, and economical and predictable energy pricing.

recent investment Missouri are expected to have an economic impact of billions of dollars in their respective fields, including $800 million Nearby metadata centers Kansas City and $800 million American Foods Beef Processing Plant Warren County.

Ranked in—— Missouri Ideal for businesses looking for low taxes and ample opportunity!

The Missouri Partnership is a public-private economic development organization focused on attracting new jobs and investment to the state and promoting Missouri business advantage. Since 2008, the Missouri Partnership has worked with partners across the state to attract companies that have created more than 31,000 new jobs, more than $1.6 billion in new annual wages and more than $6 billion in new capital investment.

Tax Foundation, a nonpartisan research think tank based in Washington DC, is the leading independent tax policy research institution in the United States. Since 1937, our research, analysis and experts have informed smarter tax policy at the federal, state and global levels.

Media Contact: Janelle Higgins | 314.541.4911 | [email protected]

SOURCE Missouri Partnership

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