Senator wants to ax Missouri’s corporate income tax

A Missouri state senator wants to see Donald Trump’s move to cut corporate income taxes and raise him a complete end to the state’s version.

Sen. Will Kraus, R-Lee’s Summit, plans to introduce legislation to phase out Missouri’s 6.25 percent corporate income tax, which is lower than top corporate rates in most surrounding states. His bill would cut the tax to 4 percent next year, to 2 percent in 2018 and end it in 2019.

Kraus said Trump’s support for cutting federal business income taxes creates an opportunity for Missouri to make a similar move. In fact, he wants the state to be able to bill itself as a corporate tax-free state.

Read more: Kansas City Business Journal

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