| Tax |
Missouri |
|
Illinois |
| Corporate
Income Tax |
6.25%
of Missouri taxable income, with adjustments including deductibility
of 50% of federal income tax. |
|
7.3%,
which includes 4.8% state income tax and 2.5% personal property
replacement tax. |
| |
|
|
|
| Taxable
Income |
Three-factor
or sales only, whichever results in lower taxes. |
|
In-state
sales only |
| |
|
|
|
| Franchise
Tax |
$0.33
per $1,000 of par value of outstanding shares and surplus
or total assets. Corporations with less than $1,000,000 outstanding
shares and surplus are not taxed. |
|
Initial
franchise tax of 0.15% of paid-in capital, thereafter annual
franchise tax of 0.1% of paid-in capital, maximum of $2 million. |
| |
|
|
|
| Property
Tax |
Residential
property assessed at 19% of true or fair market; commercial
and industrial property assessed at 32%; personal property
at 331/3%. Business inventories are not taxed. |
|
Real
property is assessed at 33.4% of market value. Tax rates approximate
8.86% of actual value statewide. Personal property is not
taxed. Business inventories are not taxed. |
| |
|
|
|
| Sales
& Use tax |
4.225%
of purchase price of tangible personal property and enumerated
services. Local sales taxes also apply and vary by jurisdiction.
|
|
6.25%
of purchase price of tangible personal property and selected
services. 1% tax on qualifying food, drugs, and medical appliances.
Local sales taxes also apply and vary by jurisdiction. |
| |
|
|
|
| Personal
Income Tax |
$315
plus 6% of taxable income over $9,000 |
|
3%
of federal adjusted gross income. |
|
|
|
|
| Local
Income Tax |
St.
Louis City residents and workers pay a 1% earnings tax. St.
Louis City employers pay a payroll tax of 0.5%. |
|
No
local earnings taxes |
