Tue. Mar 28th, 2023
Missourians will pay less in state taxes in 2023 and some will get a voter-approved wage increase.
The state’s income tax will drop from 5.3% to 4.9% under a measure approved at October’s special session and signed into law by Republican Gov. Mike Parson.
The law also increases the income exempted from state tax to $1,000 from the current rate of $100.
Meanwhile the state’s minimum wage will increase to $12 per hour though the law does not apply to public employers.