Missourians To Pay Less State Taxes In 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.