Missouri State Taxes
Quick Tax Facts
Income Tax: 0% – 4.95%
State Sales Tax: 4.225%
Median Property Tax: $1,265
Overview
Missouri (the Show Me State) offers its residents low-cost housing and a fairly low cost of living. If you’re into outdoor activities and sports, there’s also no shortage of parks or professional sports. In terms of taxes, Missouri is a mixed bag. Although it recently lowered its top income tax bracket to 4.95%, it doesn’t take much income to hit that mark. Sales taxes are on par with the national average. Property taxes, however, are just below average.
Missouri Income Tax
In 2022, Missouri Governor Mike Parson signed into law legislation that reduces the state’s top income tax rate from 5.2% to 4.95% for the 2023 tax year. Additionally, the bottom income tax bracket will be eliminated, allowing residents to earn their first $1,207 tax-free. The legislation also provides for an additional .15% rate reduction if the state’s net general revenues increase by more than $175 million, decreasing the top rate to 4.8% for 2024. Should future revenues also increase by $200 million or more, an additional .1% will be shaved off the top income tax rate until it reaches 4.5%.
The new law also eliminates the income tax burden for individuals making less than $13,000 annually or $26,000 for married couples.
| 2023 Missouri Individual Income Tax Rates |
|---|
| If your Missouri taxable income is: | The tax rate is: |
|---|---|
| $0 to $1,207 | $0 |
| Over $1,207 but not over $2,414 | 2% of excess over $1,207 |
| Over $2,414 but not over $3,621 | $24 plus 2.5% of income over $2,414 |
| Over $3,621 but not over $4,828 | $54 plus 3% of income over $3,621 |
| Over $4,828 but not over $6,035 | $90 plus 3.5% of income over $4,828 |
| Over $6,035 but not over $7,242 | $132 plus 4% of income over $6,035 |
| Over $7,242 but not over $8,449 | $180 plus 4.5% of income over $7,242 |
| Over $8,449 | $234 plus 4.95% of income over $8,449 |
Who Must File?
Missouri residents who are not required to file a federal income tax return are exempt from filing a state return (MO-1040), as well. Other instances when a taxpayer may not be required to file a state return, even if they have to file a federal one, include:
- Those earning less than $1,200 in Missouri adjusted gross income (AGI);
- Non-residents with less than $600 in Missouri income; or
- Residents with AGI less than the amount of the standard deduction (see table below) for their filing status.
| Filing Status | Gross Income |
|---|---|
| Single | $13,850 |
| Single (over 65) | $15,700 |
| Married Filing Jointly | $27,700 |
| Married Filing Jointly (one over 65) | $29,200 |
| Married Filing Jointly (both over 65) | $30,700 |
| Head of Household | $20,800 |
| Head of Household (over 65) | $22,650 |
| Married Filing Separate | $13,850 |
Missouri Sales Tax
Missouri has a state sales tax rate of 4.225%. Local governments (cities and counties) levy an additional sales tax of up to 5.763%. The average combined rate (county) is 8.3% which is slightly above average.
Missouri Property Taxes
Missouri’s property tax rates are determined by two factors: (1) the assessed value of the taxpayer’s property, and (2) the total tax rates set by the local governing bodies where the property is located. Overall, Missouri falls into the middle of the pack in terms of how much residents pay annually when compared to other states.
The median property tax bill in Missouri is $1,265 (based on a median home value of $139,700). St. Charles County has the highest average annual bill at $2,377. The lowest average property tax bill in the state is $348 in Shannon County.
| Highest | $2377 |
|---|---|
| Median | $1265 |
| Lowest | $348 |
Yearly Cost Per Resident
Missouri Tax Holidays
Missouri hosts two annual sales tax holidays.
- Show Me Green Sales Tax Holiday– held April 19 through 25 annually since 2019. Exempts up to $1,500 in sales tax per qualifying Energy Star certified appliance.
- Back-to-School Sales Tax Holiday – this tax holiday begins the first Friday in August and continues through the following Sunday. Eligible items include clothing ($100 or less per item), school supplies ($50 per purchase), computer software ($350 or less), personal computers ($not to exceed $1500), and graphing calculators ($150 or less).
Missouri Tax Resources
If you need assistance preparing your Missouri state taxes, you can speak with a tax professional from Tax Defense Network by calling 855-476-6920.
You can also visit the Missouri Department of Revenue website for additional resources.
- File and Pay Taxes
- Individual Income Tax Forms
- Tax Relief Resources
- General Tax Help: 888-929-0513
